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Possible Bearish Inside Day Candle Pattern Detected for Prologis Inc (NYSE:PLD)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Prologis Inc (NYSE:PLD) based on the price action in the company's shares. Today's price range of $82.97 and $83.28 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 Prologis Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Prologis, Inc. is an owner, operator, and developer of industrial real estate, focused on global and regional markets across the Americas, Europe, and Asia. The Company also leases modern distribution facilities to customers, including manufacturers, retailers, transportation companies, third-party logistics providers, and other enterprises.

Over the past year, Prologis Inc has traded in a range of $55.21 to $84.08 and is now at $83.01, 50% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.4%.

Prologis Inc (NYSE:PLD) is currently priced 15.4% above its average consensus analyst price target of $70.23. The stock should discover initial support at its 50-day moving average (MA) of $81.06 and subsequent support at its 200-day MA of $72.34.

SmarTrend is monitoring the recent change of momentum in Prologis Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Prologis Inc in search of a potential trend change.

Keywords: bearish inside day candle prologis inc

Ticker(s): PLD