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Possible Bearish Inside Day Candle Pattern Detected for Retail Propertie (NYSE:RPAI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Retail Propertie (NYSE:RPAI) based on the price action in the company's shares. Today's price range of $11.96 and $12.08 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 Retail Propertie may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Retail Propertie share prices have moved between a 52-week high of $13.33 and a 52-week low of $10.58 and are now trading 13% above that low price at $11.99 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Retail Properties of America, Inc. provides real estate investment services. The Company manages, develops, and acquires real estate properties including multi-tenant shopping complexes, lifestyle, power, community centers, and single-tenant net lease properties across the United States.

There is potential upside of 25.7% for shares of Retail Propertie based on a current price of $11.99 and an average consensus analyst price target of $15.07. Retail Propertie shares should encounter resistance at the 200-day moving average (MA) of $12.05 and support at the 50-day MA of $11.65.

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

Keywords: bearish inside day candle retail propertie

Ticker(s): RPAI