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

By David Diaz

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 $5.92 and $6.30 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.

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 closed yesterday at $6.20, 116% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 7.1%.

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 has overhead space with shares priced $6.20, or 58.9% below the average consensus analyst price target of $15.07. The stock should find initial resistance at its 50-day moving average (MA) of $6.81 and further resistance at its 200-day MA of $11.19.

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

Keywords: bearish am inside day candle retail propertie

Ticker(s): RPAI