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Possible Bearish Inside Day Candle Pattern Detected for Columbia Propert (NYSE:CXP)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Columbia Propert (NYSE:CXP) based on the price action in the company's shares. Yesterday's price range of $20.85 and $21.06 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 Columbia Propert may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Columbia Property Trust, Inc. operates as a real estate investment trust. The Company focuses on the acquisition, development, ownership, leasing, and operation of office properties. Columbia Property Trust serves its clients throughout the United States.

Columbia Propert share prices have moved between a 52-week high of $23.21 and a 52-week low of $19.76 and closed yesterday at 6% above that low price at $21.00 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

There is potential upside of 19.0% for shares of Columbia Propert based on a current price of $21.00 and an average consensus analyst price target of $25.00. Columbia Propert shares should encounter resistance at the 200-day moving average (MA) of $21.34 and support at the 50-day MA of $20.61.

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

Keywords: bearish am inside day candle columbia propert

Ticker(s): CXP