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

By David Diaz

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 $46.12 and $46.63 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.

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

Rexford Industri share prices have moved between a 52-week high of $48.80 and a 52-week low of $30.65 and closed yesterday at 52% above that low price at $46.44 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.2%.

Rexford Industri (NYSE:REXR) is currently priced 26.8% above its average consensus analyst price target of $34.00. Rexford Industri shares have support at the 50-day moving average (MA) of $46.19 and additional support at the 200-day MA of $42.36.

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

Keywords: bearish am inside day candle rexford industri

Ticker(s): REXR