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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Alexandria Real (NYSE:ARE) based on the price action in the company's shares. Yesterday's price range of $121.67 and $124.44 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. Traders and investors interested in shares of Alexandria Real may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Alexandria Real share prices have been bracketed by a low of $114.00 and a high of $134.37 and closed yesterday at $123.00, 8% 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.

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. Alexandria Real Estate Equities serves customers in the State of California.

There is potential upside of 10.9% for shares of Alexandria Real based on a current price of $123.00 and an average consensus analyst price target of $136.45. The stock should find initial resistance at its 50-day moving average (MA) of $123.12 and further resistance at its 200-day MA of $124.92.

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

Keywords: bullish am inside day candle alexandria real

Ticker(s): ARE