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Possible Bullish Inside Day Candle Pattern Detected for Retail Propertie (NYSE:RPAI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Retail Propertie (NYSE:RPAI) based on the price action in the company's shares. Yesterday's price range of $13.03 and $13.17 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 Retail Propertie 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, shares of Retail Propertie have traded between a low of $11.61 and a high of $17.78 and closed yesterday at $13.10, which is 13% 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 1.2%.

Retail Properties of America, Inc. provides real estate investment services. The Company manages, develops, and acquires real estate properties including multi-tenant shopping complexes, lifestyle, power, community centers, and single-tenant net lease properties across the United States.

Potential upside of 21.6% exists for Retail Propertie, based on a current level of $13.10 and analysts' average consensus price target of $15.93. The stock should run into initial resistance at its 200-day moving average (MA) of $14.92 and subsequent resistance at its 50-day MA of $15.77.

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

Keywords: bullish am inside day candle retail propertie

Ticker(s): RPAI