• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Stag Industrial (NYSE:STAG)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Stag Industrial (NYSE:STAG) based on the price action in the company's shares. Yesterday's price range of $26.16 and $27.10 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 Stag Industrial may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

STAG Industrial, Inc. is a real estate investment trust. The trust invests in and manages single-tenant industrial properties throughout the United States.

In the past 52 weeks, Stag Industrial share prices have been bracketed by a low of $17.54 and a high of $33.48 and closed yesterday at $26.16, 49% above that low price. The 200-day and 50-day moving averages have moved 0.15% lower and 0.83% lower over the past week, respectively.

Potential upside of 9.5% exists for Stag Industrial, based on a current level of $26.16 and analysts' average consensus price target of $28.65. Stag Industrial shares should first meet resistance at the 50-day moving average (MA) of $27.01 and find additional resistance at the 200-day MA of $29.57.

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

Keywords: bearish am inside day candle stag industrial

Ticker(s): STAG