• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Wp Carey Inc (NYSE:WPC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wp Carey Inc (NYSE:WPC) based on the price action in the company's shares. Yesterday's price range of $78.89 and $79.36 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 Wp Carey Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

WP Carey Inc. is a global net-lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions for companies worldwide. In addition to its owned portfolio of diversified global real estate, WP Carey manages a series of non-traded REITs.

In the past 52 weeks, Wp Carey Inc share prices have been bracketed by a low of $60.87 and a high of $79.37 and closed yesterday at $79.24, 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.3%.

Wp Carey Inc (NYSE:WPC) is currently priced 17.8% above its average consensus analyst price target of $65.17. The stock should find initial support at its 50-day moving average (MA) of $76.29 and further support at its 200-day MA of $69.04.

SmarTrend is tracking the current trend status for Wp Carey Inc and will alert subscribers who have WPC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle wp carey inc

Ticker(s): WPC