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

By David Diaz

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 $91.62 and $92.19 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.

Based on a current price of $91.72, Prologis Inc is currently 23.4% above its average consensus analyst price target of $70.23. The stock should find initial support at its 50-day moving average (MA) of $87.63 and further support at its 200-day MA of $79.89.

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 $92.49 and is now at $91.72, 66% above that low. The 200-day and 50-day moving averages have moved 0.39% higher and 0.41% higher over the past week, respectively.

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

Keywords: bearish inside day candle prologis inc

Ticker(s): PLD