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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Duke Realty (NYSE:DRE) based on the price action in the company's shares. Today's price range of $28.83 and $29.06 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 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 $28.91, Duke Realty is currently 4.0% above its average consensus analyst price target of $27.75. The stock should find initial support at its 50-day moving average (MA) of $21.95 and further support at its 200-day MA of $20.39.

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

Duke Realty share prices have moved between a 52-week high of $29.25 and a 52-week low of $17.60 and are now trading 64% above that low price at $28.91 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Duke Realty on April 3rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.40. Since that recommendation, shares of Duke Realty have risen 10.1%. 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

Ticker(s): DRE