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Possible Bearish Inside Day Candle Pattern Detected for Udr Inc (NYSE:UDR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Udr Inc (NYSE:UDR) based on the price action in the company's shares. Today's price range of $36.98 and $37.43 is within yesterday'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 Udr Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Udr Inc share prices have been bracketed by a low of $32.88 and a high of $40.33 and are now at $36.98, 12% above that low price. The 200-day and 50-day moving averages have moved 0.04% lower and 0.21% higher over the past week, respectively.

UDR, Inc. is a self-administered real estate investment trust. The Company owns, operates, and develops apartment communities located nationwide.

There is potential upside of 4.8% for shares of Udr Inc based on a current price of $36.98 and an average consensus analyst price target of $38.75. The stock should find initial support at its 200-day moving average (MA) of $36.80 and further support at its 50-day MA of $36.69.

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

Keywords: bearish inside day candle udr inc

Ticker(s): UDR