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Possible Bearish Inside Day Candle Pattern Detected for Brixmor Property (NYSE:BRX)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Brixmor Property (NYSE:BRX) based on the price action in the company's shares. Today's price range of $19.04 and $19.12 is within yesterday'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. Owners of Brixmor Property may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 422 retail centers comprise approximately 73 million square feet of prime retail space in established trade areas.

In the past 52 weeks, Brixmor Property share prices have been bracketed by a low of $14.11 and a high of $19.18 and are now at $19.04, 35% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.6%.

Based on a current price of $19.04, Brixmor Property is currently 7.1% above its average consensus analyst price target of $17.69. The stock should find initial support at its 50-day moving average (MA) of $18.18 and further support at its 200-day MA of $17.21.

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

Keywords: bearish inside day candle brixmor property

Ticker(s): BRX