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Possible Bullish Inside Day Candle Pattern Detected for Terreno Realty C (NYSE:TRNO)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Terreno Realty C (NYSE:TRNO) based on the price action in the company's shares. Yesterday's price range of $51.45 and $52.89 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 Terreno Realty C may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Terreno Realty Corp is a corporation focused on acquiring industrial real estate located in six major coastal U.S. markets, Southern California, San Francisco Bay Area, Seattle, Northern New Jersey, New York City, Washington D.C./Baltimore, and South Florida. The Company intends to elect and qualify to be taxed as a real estate investment trust with taxable year ending 12/31/10.

Terreno Realty C (NYSE:TRNO) is currently priced 23.5% above its average consensus analyst price target of $39.67. The stock should hit resistance at its 200-day moving average (MA) of $53.39, as well as support at its 50-day MA of $51.65.

In the past 52 weeks, shares of Terreno Realty C have traded between a low of $42.12 and a high of $62.31 and closed yesterday at $51.83, which is 23% above that low price. The 200-day and 50-day moving averages have moved 0.14% higher and 1.28% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Terreno Realty C and will alert subscribers who have TRNO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle terreno realty c

Ticker(s): TRNO