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Possible Bearish Inside Day Candle Pattern Detected for DCT Industrial Trust (NYSE:DCT)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in DCT Industrial Trust (NYSE:DCT) based on the price action in the company's shares. Yesterday's price range of $54.44 and $55.04 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 DCT Industrial Trust may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $54.87, DCT Industrial Trust is currently 9.1% above its average consensus analyst price target of $49.90. DCT Industrial Trust shares have support at the 50-day moving average (MA) of $39.18 and additional support at the 200-day MA of $36.34.

In the past 52 weeks, DCT Industrial Trust share prices have been bracketed by a low of $31.08 and a high of $55.26 and closed yesterday at $54.87, 77% above that low price. The 200-day and 50-day moving averages have moved 0.38% higher and 1.00% higher over the past week, respectively.

DCT Industrial Trust Inc. is a real estate investment trust. The Company owns, acquires, develops and manages bulk distribution and light industrial properties located in the United States.

SmarTrend recommended that subscribers consider buying shares of DCT Industrial Trust on April 3rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $48.17. Since that recommendation, shares of DCT Industrial Trust have risen 14.3%. We continue to monitor DCT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle dct industrial trust

Ticker(s): DCT