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Possible Bearish Inside Day Candle Pattern Detected for RealPage (NASDAQ:RP)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in RealPage (NASDAQ:RP) based on the price action in the company's shares. Yesterday's price range of $35.20 and $36.15 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 RealPage 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, shares of RealPage have traded between a low of $14.87 and a high of $38.25 and closed yesterday at $35.30, which is 137% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.5%.

RealPage, Inc. provides products and services to the multifamily real estate industry. The Company's services include applicant screening, accounting, budgeting, property management, and compliance reporting. RealPage also develops and delivers proprietary Web-based applications that enhance client information management capabilities.

RealPage has overhead space with shares priced $35.30, or 5.9% below the average consensus analyst price target of $37.50. RealPage shares have support at the 50-day moving average (MA) of $20.75 and additional support at the 200-day MA of $19.78.

SmarTrend recommended that subscribers consider buying shares of RealPage on January 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.30. Since that recommendation, shares of RealPage have risen 19.6%. We continue to monitor RP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle realpage

Ticker(s): RP