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Possible Bullish Inside Day Candle Pattern Detected for Alexandria Real Estate Equities (NYSE:ARE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Alexandria Real Estate Equities (NYSE:ARE) based on the price action in the company's shares. Today's price range of $118.08 and $118.95 is within yesterday'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. Traders and investors interested in shares of Alexandria Real Estate Equities may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Alexandria Real Estate Equities (NYSE:ARE) is currently priced 0.8% above its average consensus analyst price target of $117.50. The stock should find initial support at its 50-day moving average (MA) of $89.06 and further support at its 200-day MA of $87.74.

Alexandria Real Estate Equities, Inc. acquires, manages, expands and develops office and laboratory space properties. The Company leases its properties to pharmaceutical, biotechnology, diagnostic and personal care products companies, research institutions and related government agencies. Properties are located in California, suburban Washington D.C., New England, the Mideast and Southeast.

In the past 52 weeks, Alexandria Real Estate Equities share prices have been bracketed by a low of $70.69 and a high of $120.96 and are now at $118.39, 67% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Alexandria Real Estate Equities and will alert subscribers who have ARE in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle Alexandria Real Estate Equities

Ticker(s): ARE