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Possible Bullish Inside Day Candle Pattern Detected for Sl Green Realty (NYSE:SLG)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Sl Green Realty (NYSE:SLG) based on the price action in the company's shares. Yesterday's price range of $92.20 and $92.65 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 Sl Green 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.

Potential upside of 20.8% exists for Sl Green Realty, based on a current level of $92.18 and analysts' average consensus price target of $111.33. The stock should find initial support at its 50-day moving average (MA) of $89.57 and further support at its 200-day MA of $84.56.

SL Green Realty Corp. is a fully integrated, self-administered, and self-managed real estate investment trust. The Trust is exclusively focused on owning and operating office buildings in Manhattan.

Sl Green Realty share prices have moved between a 52-week high of $96.39 and a 52-week low of $75.45 and closed yesterday at 22% above that low price at $92.18 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

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

Keywords: bullish am inside day candle sl green realty

Ticker(s): SLG