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Possible Bearish Inside Day Candle Pattern Detected for Prologis Inc (NYSE:PLD)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Prologis Inc (NYSE:PLD) based on the price action in the company's shares. Today's price range of $90.42 and $91.70 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 Prologis Inc 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, Prologis Inc has traded in a range of $59.82 to $99.79 and is now at $89.75, 50% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has remained constant.

Prologis Inc (NYSE:PLD) defies analysts with a current price ($89.75) 21.7% above its average consensus price target of $70.23. The stock should discover initial support at its 200-day moving average (MA) of $85.88 and subsequent support at its 50-day MA of $84.39.

Prologis, Inc. is an owner, operator, and developer of industrial real estate, focused on global and regional markets across the Americas, Europe, and Asia. The Company also leases modern distribution facilities to customers, including manufacturers, retailers, transportation companies, third-party logistics providers, and other enterprises.

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

Keywords: bearish inside day candle prologis inc

Ticker(s): PLD