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

By David Diaz

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. Yesterday's price range of $36.89 and $37.43 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 Udr Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 4.5% for shares of Udr Inc based on a current price of $37.07 and an average consensus analyst price target of $38.75. Udr Inc shares have support at the 200-day moving average (MA) of $36.80 and additional support at the 50-day MA of $36.71.

Udr Inc share prices have moved between a 52-week high of $40.33 and a 52-week low of $32.88 and closed yesterday at 13% above that low price at $37.07 per share. The 200-day and 50-day moving averages have moved 0.06% lower and 0.25% 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.

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 am inside day candle udr inc

Ticker(s): UDR