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Possible Bearish Inside Day Candle Pattern Detected for Sl Green Realty (NYSE:SLG)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Sl Green Realty (NYSE:SLG) based on the price action in the company's shares. Yesterday's price range of $81.13 and $82.68 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 Sl Green Realty may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

SL Green Realty Corp. is a fully integrated, self-administered, and self-managed real estate investment trust. The Trust is exclusively focused on owning and operating office buildings in Manhattan.

In the past 52 weeks, shares of Sl Green Realty have traded between a low of $75.45 and a high of $105.00 and closed yesterday at $82.50, which is 9% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 0.3%.

There is potential upside of 34.9% for shares of Sl Green Realty based on a current price of $82.50 and an average consensus analyst price target of $111.33. The stock should hit resistance at its 200-day moving average (MA) of $86.37, as well as support at its 50-day MA of $79.88.

SmarTrend is monitoring the recent change of momentum in Sl Green Realty. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Sl Green Realty in search of a potential trend change.

Keywords: bearish am inside day candle sl green realty

Ticker(s): SLG