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

By Shiri Gupta

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. Yesterday's price range of $90.42 and $91.70 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 Prologis Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Prologis Inc (NYSE:PLD) is currently priced 18.7% above its average consensus analyst price target of $70.23. The stock should find initial support at its 200-day moving average (MA) of $85.93 and further support at its 50-day MA of $84.20.

Prologis Inc share prices have moved between a 52-week high of $99.79 and a 52-week low of $59.82 and closed yesterday at 44% above that low price at $86.41 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

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 am inside day candle prologis inc

Ticker(s): PLD