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Possible Bullish Inside Day Candle Pattern Detected for Vornado Rlty Tst (NYSE:VNO)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Vornado Rlty Tst (NYSE:VNO) based on the price action in the company's shares. Yesterday's price range of $40.88 and $42.50 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 Vornado Rlty Tst may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Vornado Rlty Tst has overhead space with shares priced $42.05, or 46.4% below the average consensus analyst price target of $78.42. Vornado Rlty Tst shares should first meet resistance at the 50-day moving average (MA) of $47.85 and find additional resistance at the 200-day MA of $60.13.

Vornado Rlty Tst share prices have moved between a 52-week high of $70.45 and a 52-week low of $27.64 and closed yesterday at 52% above that low price at $42.05 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.8% while the 200-day MA has slid 0.9%.

Vornado Realty Trust is a fully-integrated real estate investment trust. The Trust owns, manages, and leases office properties in New York City, Chicago and San Francisco.

SmarTrend is tracking the current trend status for Vornado Rlty Tst and will alert subscribers who have VNO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle vornado rlty tst

Ticker(s): VNO