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

By Amy Schwartz

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 $35.62 and $36.19 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.

Douglas Emmett (NYSE:DEI) has potential upside of 14.3% based on a current price of $35.72 and analysts' consensus price target of $40.83. The stock should find initial resistance at its 50-day moving average (MA) of $36.28 and further resistance at its 200-day MA of $37.68.

In the past 52 weeks, shares of Douglas Emmett have traded between a low of $34.72 and a high of $41.59 and closed yesterday at $35.72, which is 3% above that low price. The 200-day and 50-day moving averages have moved 0.01% lower and 0.34% lower over the past week, respectively.

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