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Possible Bearish Inside Day Candle Pattern Detected for National Retail (NYSE:NNN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in National Retail (NYSE:NNN) based on the price action in the company's shares. Today's price range of $29.66 and $30.45 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 National Retail 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, National Retail has traded in a range of $24.04 to $59.26 and is now at $30.30, 26% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 3.5%.

National Retail Properties Inc. is a real estate investment trust. The Company acquires, develops, and manages retail properties. National Retail Properties serves customers in the State of Florida.

National Retail (NYSE:NNN) has potential upside of 43.9% based on a current price of $30.30 and analysts' consensus price target of $43.60. The stock should run into initial resistance at its 50-day moving average (MA) of $46.48 and subsequent resistance at its 200-day MA of $52.74.

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

Keywords: bearish inside day candle national retail

Ticker(s): NNN