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Possible Bearish Inside Day Candle Pattern Detected for Douglas Emmett (NYSE:DEI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Douglas Emmett (NYSE:DEI) based on the price action in the company's shares. Yesterday's price range of $40.77 and $41.08 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 Douglas Emmett may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Douglas Emmett, Inc. operates as a real estate investment trust. The Company invests in office and multi-family properties. Douglas Emmett serves customers in the States of California and Hawaii.

Douglas Emmett share prices have moved between a 52-week high of $41.22 and a 52-week low of $32.32 and closed yesterday at 27% above that low price at $41.14 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.5%.

Douglas Emmett (NYSE:DEI) defies analysts with a current price ($41.14) 0.7% above its average consensus price target of $40.83. The stock should discover initial support at its 200-day moving average (MA) of $37.66 and subsequent support at its 50-day MA of $37.49.

SmarTrend recommended that subscribers consider buying shares of Douglas Emmett on January 11th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.21. Since that recommendation, shares of Douglas Emmett have risen 16.7%. We continue to monitor DEI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle douglas emmett

Ticker(s): DEI