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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Stag Industrial (NYSE:STAG) based on the price action in the company's shares. Yesterday's price range of $32.29 and $32.59 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 Stag Industrial may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Stag Industrial have traded between a low of $26.98 and a high of $33.21 and closed yesterday at $32.36, which is 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

Stag Industrial (NYSE:STAG) is currently priced 11.5% above its average consensus analyst price target of $28.65. Stag Industrial shares have support at the 50-day moving average (MA) of $31.45 and additional support at the 200-day MA of $30.27.

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

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

Keywords: bullish am inside day candle stag industrial

Ticker(s): STAG