Kimco Realty Bearish Signs

Published on Wednesday, 25 July 2012 04:51 Written by TradersHuddle Wire

kim New York, July 25th (TradersHuddle.com) - Shares of Kimco Realty Corporation (NYSE:KIM) ended the trading session lower by $0.11 or -0.58% from its previous close. Kimco's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Kimco Realty Corporation (NYSE:KIM) is a real estate investment trust. The Company owns and operates neighborhood and community shopping centers with locations in multiple states as well as Puerto Rico, Canada, Mexico, Chile, Brazil and Peru.

Kimco's current stock range is determined by calculated support defined at $17.78 and by the resistance level at $19.69, which should be used by traders planning their next move.

If traders want to establish a position in Kimco Realty, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Kimco Realty for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:

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