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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 $74.67 and $74.67 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.

Prologis Inc (NYSE:PLD) is currently priced 5.9% above its average consensus analyst price target of $70.23. Prologis Inc shares have support at the 50-day moving average (MA) of $72.86 and additional support at the 200-day MA of $67.48.

Prologis Inc share prices have moved between a 52-week high of $78.56 and a 52-week low of $55.21 and are now trading 35% above that low price at $74.67 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Prologis Inc on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.85. Since that recommendation, shares of Prologis Inc have risen 22.7%. We continue to monitor PLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle prologis inc

Ticker(s): PLD