• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for First Ind Realty (NYSE:FR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in First Ind Realty (NYSE:FR) based on the price action in the company's shares. Today's price range of $35.72 and $36.61 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. Owners of First Ind Realty may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

First Ind Realty (NYSE:FR) is currently priced 9.3% above its average consensus analyst price target of $32.79. The stock should run into initial resistance at its 50-day moving average (MA) of $37.66 and subsequent resistance at its 200-day MA of $39.39.

Over the past year, First Ind Realty has traded in a range of $25.89 to $46.12 and is now at $36.14, 40% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.9% while the 200-day MA has remained constant.

First Industrial Realty Trust, Inc. is a self-administered and fully integrated real estate investment trust which owns, manages, acquires, and develops bulk warehouses and light industrial properties. The Company's interests in its properties are held through various partnerships controlled by the company.

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

Keywords: bearish inside day candle first ind realty

Ticker(s): FR