• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Monmouth Real Es (NYSE:MNR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Monmouth Real Es (NYSE:MNR) based on the price action in the company's shares. Yesterday's price range of $11.46 and $11.88 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. Owners of Monmouth Real Es may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Monmouth Real Es has traded in a range of $8.42 to $15.53 and closed yesterday at $11.49, 36% above that low. The 200-day and 50-day moving averages have moved 0.49% lower and 2.44% lower over the past week, respectively.

Monmouth Real Es has overhead space with shares priced $11.49, or 35.7% below the average consensus analyst price target of $17.88. The stock should find initial resistance at its 50-day moving average (MA) of $13.80 and further resistance at its 200-day MA of $14.10.

Monmouth Real Estate Investment Corporation is a real estate investment trust specializing in net leased industrial properties. The Company's equity portfolio consists of industrial properties and shopping centers located in New Jersey, New York, Mississippi, Missouri, Massachusetts, Iowa, North Carolina, Kansas, Pennsylvania and Virginia.

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

Keywords: bearish am inside day candle monmouth real es

Ticker(s): MNR