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Possible Bearish Inside Day Candle Pattern Detected for Ramco-Gershenson (NYSE:RPT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ramco-Gershenson (NYSE:RPT) based on the price action in the company's shares. Yesterday's price range of $12.46 and $12.54 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 Ramco-Gershenson may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Ramco-Gershenson share prices have been bracketed by a low of $11.26 and a high of $14.42 and closed yesterday at $12.58, 12% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

Ramco-Gershenson Properties Trust operates as a real estate investment trust. The Trust owns, develops, acquires, manages, and leases regional malls, community shopping centers, and single tenant properties nationally. Ramco-Gershenson Properties serves customers in the United States.

Ramco-Gershenson has overhead space with shares priced $12.58, or 3.8% below the average consensus analyst price target of $13.08. The stock should hit resistance at its 200-day moving average (MA) of $12.83, as well as support at its 50-day MA of $12.26.

SmarTrend is tracking the current trend status for Ramco-Gershenson and will alert subscribers who have RPT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle ramco-gershenson

Ticker(s): RPT