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Possible Bearish Inside Day Candle Pattern Detected for Wp Carey Inc (NYSE:WPC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wp Carey Inc (NYSE:WPC) based on the price action in the company's shares. Yesterday's price range of $82.11 and $83.24 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 Wp Carey Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Wp Carey Inc (NYSE:WPC) is currently priced 21.1% above its average consensus analyst price target of $65.17. The stock should hit resistance at its 200-day moving average (MA) of $84.11, as well as support at its 50-day MA of $81.98.

Wp Carey Inc share prices have moved between a 52-week high of $93.36 and a 52-week low of $68.16 and closed yesterday at 21% above that low price at $82.56 per share. The 200-day and 50-day moving averages have moved 0.08% higher and 0.68% lower over the past week, respectively.

W.P. Carey Inc. operates as a global net-lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions for companies worldwide. In addition to its owned portfolio of diversified global real estate, W.P. Carey manages a series of non-traded REITs.

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

Keywords: bearish am inside day candle wp carey inc

Ticker(s): WPC