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Possible Bearish Inside Day Candle Pattern Detected for Realpage Inc (NASDAQ:RP)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Realpage Inc (NASDAQ:RP) based on the price action in the company's shares. Yesterday's price range of $56.54 and $57.15 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 Realpage Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

RealPage, Inc. provides products and services to the multifamily real estate industry. The Company's services include applicant screening, accounting, budgeting, property management, and compliance reporting. RealPage also develops and delivers proprietary web-based applications that enhance client information management capabilities.

Realpage Inc has overhead space with shares priced $57.15, or 8.9% below the average consensus analyst price target of $62.71. Realpage Inc shares should encounter resistance at the 200-day moving average (MA) of $59.85 and support at the 50-day MA of $54.77.

In the past 52 weeks, Realpage Inc share prices have been bracketed by a low of $51.65 and a high of $65.92 and closed yesterday at $57.15, 11% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Realpage Inc on October 23rd, 2019 by issuing a Downtrend alert when the shares were trading at $59.80. Since that call, shares of Realpage Inc have fallen 4.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle realpage inc

Ticker(s): RP