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Possible Bullish Inside Day Candle Pattern Detected for Douglas Emmett (NYSE:DEI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Douglas Emmett (NYSE:DEI) based on the price action in the company's shares. Yesterday's price range of $35.57 and $36.06 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 Douglas Emmett may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Douglas Emmett, Inc. operates as a real estate investment trust. The Company invests in office and multi-family properties. Douglas Emmett serves customers in the States of California and Hawaii.

In the past 52 weeks, Douglas Emmett share prices have been bracketed by a low of $33.20 and a high of $41.59 and closed yesterday at $35.95, 8% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.8%.

Douglas Emmett (NYSE:DEI) has potential upside of 11.9% based on a current price of $35.95 and analysts' consensus price target of $40.21. Douglas Emmett shares have support at the 50-day moving average (MA) of $30.31 and additional support at the 200-day MA of $29.67.

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

Keywords: bullish am inside day candle douglas emmett

Ticker(s): DEI