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

By David Diaz

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 $9.85 and $10.31 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.

Kimco Realty share prices have moved between a 52-week high of $21.86 and a 52-week low of $7.52 and closed yesterday at 34% above that low price at $10.05 per share. The 200-day and 50-day moving averages have moved 0.89% lower and 5.71% lower over the past week, respectively.

Kimco Realty has overhead space with shares priced $10.05, or 38.9% below the average consensus analyst price target of $16.45. The stock should find initial resistance at its 50-day moving average (MA) of $11.34 and further resistance at its 200-day MA of $17.88.

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

Keywords: bullish am inside day candle kimco realty

Ticker(s): KIM