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Possible Bearish Inside Day Candle Pattern Detected for Duke Realty Corp (NYSE:DRE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Duke Realty Corp (NYSE:DRE) based on the price action in the company's shares. Today's price range of $33.16 and $33.40 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 Duke Realty Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Duke Realty Corp (NYSE:DRE) defies analysts with a current price ($33.16) 11.1% above its average consensus price target of $29.48. Duke Realty Corp shares have support at the 50-day moving average (MA) of $33.05 and additional support at the 200-day MA of $30.55.

In the past 52 weeks, shares of Duke Realty Corp have traded between a low of $24.67 and a high of $33.83 and are now at $33.16, which is 34% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.

Duke Realty Corporation owns interests in industrial, office, and medical office properties across the Southeastern, Midwestern, and Southern United States. The Company provides leasing, property and asset management, acquisition, development, construction, build-to-suit, and other related services.

SmarTrend recommended that subscribers consider buying shares of Duke Realty Corp on January 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.90. Since that recommendation, shares of Duke Realty Corp have risen 24.3%. We continue to monitor DRE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle duke realty corp

Ticker(s): DRE