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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. Yesterday's price range of $4.12 and $4.77 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 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.

Retail Propertie share prices have moved between a 52-week high of $14.30 and a 52-week low of $2.87 and closed yesterday at 60% above that low price at $4.58 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 4.4%.

Retail Propertie (NYSE:RPAI) has potential upside of 229.1% based on a current price of $4.58 and analysts' consensus price target of $15.07. Retail Propertie shares should first meet resistance at the 50-day moving average (MA) of $10.91 and find additional resistance at the 200-day MA of $12.12.

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 am inside day candle retail propertie

Ticker(s): RPAI