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Possible Bearish Inside Day Candle Pattern Detected for Terreno Realty C (NYSE:TRNO)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Terreno Realty C (NYSE:TRNO) based on the price action in the company's shares. Yesterday's price range of $36.98 and $37.10 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 Terreno Realty C may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Terreno Realty Corp is a corporation focused on acquiring industrial real estate located in six major coastal U.S. markets, Southern California, San Francisco Bay Area, Seattle, Northern New Jersey, New York City, Washington D.C./Baltimore, and South Florida. The Company intends to elect and qualify to be taxed as a real estate investment trust with taxable year ending 12/31/10.

Terreno Realty C (NYSE:TRNO) has potential upside of 7.4% based on a current price of $36.94 and analysts' consensus price target of $39.67. Terreno Realty C shares should first meet resistance at the 200-day moving average (MA) of $37.14 and find additional resistance at the 50-day MA of $37.51.

In the past 52 weeks, Terreno Realty C share prices have been bracketed by a low of $31.56 and a high of $39.62 and closed yesterday at $36.94, 17% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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

Keywords: bearish am inside day candle terreno realty c

Ticker(s): TRNO