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Possible Bullish Inside Day Candle Pattern Detected for Prologis Inc (NYSE:PLD)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Prologis Inc (NYSE:PLD) based on the price action in the company's shares. Yesterday's price range of $93.10 and $93.50 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. Traders and investors interested in shares of Prologis Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Prologis Inc has traded in a range of $65.38 to $96.96 and closed yesterday at $91.87, 41% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.3%.

Prologis, Inc. is an owner, operator, and developer of industrial real estate, focused on global and regional markets across the Americas, Europe, and Asia. The Company also leases modern distribution facilities to customers, including manufacturers, retailers, transportation companies, third-party logistics providers, and other enterprises.

Based on a current price of $91.87, Prologis Inc is currently 23.6% above its average consensus analyst price target of $70.23. The stock should discover initial support at its 50-day moving average (MA) of $90.96 and subsequent support at its 200-day MA of $84.23.

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

Keywords: bullish am inside day candle prologis inc

Ticker(s): PLD