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

By James Quinn

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. Yesterday's price range of $18.92 and $19.03 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. 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.

Over the past year, Brixmor Property has traded in a range of $14.11 to $19.20 and closed yesterday at $19.03, 35% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

Brixmor Property (NYSE:BRX) is currently priced 7.0% above its average consensus analyst price target of $17.69. The stock should find initial support at its 50-day moving average (MA) of $18.37 and further support at its 200-day MA of $17.44.

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.

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

Keywords: bearish am inside day candle brixmor property

Ticker(s): BRX