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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. Today's price range of $5.16 and $5.50 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 Propertie share prices have moved between a 52-week high of $14.30 and a 52-week low of $2.87 and are now trading 84% above that low price at $5.27 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 5.1%.

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 $5.27, or 65.0% below the average consensus analyst price target of $15.07. Retail Propertie shares should first meet resistance at the 50-day moving average (MA) of $9.13 and find additional resistance at the 200-day MA of $11.73.

SmarTrend recommended that subscribers consider buying shares of Retail Propertie on March 20th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.93. Since that recommendation, shares of Retail Propertie have risen 8.3%. We continue to monitor RPAI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle retail propertie

Ticker(s): RPAI