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Possible Bearish Inside Day Candle Pattern Detected for Life Storage Inc (:LSI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Life Storage Inc (:LSI) based on the price action in the company's shares. Yesterday's price range of $107.60 and $108.27 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 Life Storage Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Life Storage Inc has traded in a range of $90.99 to $112.64 and closed yesterday at $108.01, 19% above that low. The 200-day and 50-day moving averages have moved 0.18% higher and 0.24% higher over the past week, respectively.

Life Storage Inc (:LSI) is currently priced 3.8% above its average consensus analyst price target of $103.91. The stock should find initial support at its 50-day moving average (MA) of $105.46 and further support at its 200-day MA of $99.74.

SmarTrend is tracking the current trend status for Life Storage Inc and will alert subscribers who have LSI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle :lsi life storage inc

Ticker(s): LSI