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Possible Bullish Inside Day Candle Pattern Detected for Getty Realty (NYSE:GTY)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Getty Realty (NYSE:GTY) based on the price action in the company's shares. Yesterday's price range of $21.44 and $23.95 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Getty Realty may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Getty Realty share prices have been bracketed by a low of $20.74 and a high of $33.75 and closed yesterday at $23.90, 15% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.2% while the 200-day MA has slid 0.5%.

Getty Realty Corp. operates as a real estate investment trust. The Company specializes in the ownership, leasing, and financing of convenience store and gasoline station properties. Getty Realty owns properties across the Northeast and the Mid-Atlantic regions of the United States.

Potential upside of 15.1% exists for Getty Realty, based on a current level of $23.90 and analysts' average consensus price target of $27.50. Getty Realty shares should first meet resistance at the 50-day moving average (MA) of $31.14 and find additional resistance at the 200-day MA of $31.63.

SmarTrend is tracking the current trend status for Getty Realty and will alert subscribers who have GTY in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle getty realty

Ticker(s): GTY