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Possible Bearish Inside Day Candle Pattern Detected for Lexington Realty (NYSE:LXP)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lexington Realty (NYSE:LXP) based on the price action in the company's shares. Today's price range of $9.46 and $9.50 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 Lexington Realty may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Lexington Realty Trust is a real estate investment trust that owns and manages office, industrial, and retail properties net-leased to major corporations throughout the United States. The Company also provides investment advisory and asset management services to investors in the net lease area.

In the past 52 weeks, shares of Lexington Realty have traded between a low of $7.66 and a high of $9.70 and are now at $9.48, which is 24% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Lexington Realty (NYSE:LXP) defies analysts with a current price ($9.48) 12.1% above its average consensus price target of $8.33. Lexington Realty shares have support at the 50-day moving average (MA) of $9.16 and additional support at the 200-day MA of $8.78.

SmarTrend recommended that subscribers consider buying shares of Lexington Realty on November 29th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.67. Since that recommendation, shares of Lexington Realty have risen 9.7%. We continue to monitor LXP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle lexington realty

Ticker(s): LXP