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Possible Bearish Inside Day Candle Pattern Detected for Rexford Industri (NYSE:REXR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Rexford Industri (NYSE:REXR) based on the price action in the company's shares. Yesterday's price range of $36.86 and $37.14 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 Rexford Industri 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 $37.16, Rexford Industri is currently 8.5% above its average consensus analyst price target of $34.00. The stock should discover initial support at its 50-day moving average (MA) of $35.48 and subsequent support at its 200-day MA of $32.60.

Rexford Industri share prices have moved between a 52-week high of $37.53 and a 52-week low of $28.17 and closed yesterday at 32% above that low price at $37.16 per share. The 200-day and 50-day moving averages have moved 0.23% higher and 0.27% higher over the past week, respectively.

Rexford Industrial Realty, Inc. is a real estate investment trust that specializes in acquiring, owning, and operating industrial properties in Southern California markets.

SmarTrend recommended that subscribers consider buying shares of Rexford Industri on January 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.35. Since that recommendation, shares of Rexford Industri have risen 22.4%. We continue to monitor REXR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle rexford industri

Ticker(s): REXR