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Possible Bullish Inside Day Candle Pattern Detected for Kimco Realty (NYSE:KIM)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kimco Realty (NYSE:KIM) based on the price action in the company's shares. Yesterday's price range of $8.79 and $9.55 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 Kimco 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.

Kimco Realty Corporation is a real estate investment trust (REIT). The Company owns and operates open-air shopping centers with multiple locations in the United States and Puerto Rico. Kimco Realty owns properties which are usually anchored by a supermarket and big box store that sells day-to-day necessities.

There is potential upside of 84.4% for shares of Kimco Realty based on a current price of $8.92 and an average consensus analyst price target of $16.45. Kimco Realty shares should first meet resistance at the 50-day moving average (MA) of $13.97 and find additional resistance at the 200-day MA of $18.49.

In the past 52 weeks, Kimco Realty share prices have been bracketed by a low of $7.52 and a high of $21.86 and closed yesterday at $8.92, 19% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 6.5%.

SmarTrend is monitoring the recent change of momentum in Kimco Realty. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Kimco Realty in search of a potential trend change.

Keywords: bullish am inside day candle kimco realty

Ticker(s): KIM