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Possible Bearish Inside Day Candle Pattern Detected for Retail Propertie (NYSE:RPAI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Retail Propertie (NYSE:RPAI) based on the price action in the company's shares. Today's price range of $4.15 and $4.77 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 Retail Propertie may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Retail Properties of America, Inc. provides real estate investment services. The Company manages, develops, and acquires real estate properties including multi-tenant shopping complexes, lifestyle, power, community centers, and single-tenant net lease properties across the United States.

In the past 52 weeks, Retail Propertie share prices have been bracketed by a low of $2.87 and a high of $14.30 and are now at $4.30, 50% above that low price. The 200-day and 50-day moving averages have moved 1.55% lower and 7.18% lower over the past week, respectively.

Potential upside of 250.5% exists for Retail Propertie, based on a current level of $4.30 and analysts' average consensus price target of $15.07. The stock should run into initial resistance at its 50-day moving average (MA) of $11.08 and subsequent resistance at its 200-day MA of $12.16.

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

Keywords: bearish inside day candle retail propertie

Ticker(s): RPAI