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

By Amy Schwartz

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 $40.10 and $40.13 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.

Udr Inc (NYSE:UDR) is currently priced 3.3% above its average consensus analyst price target of $38.75. The stock should find resistance at its 50-day moving average (MA) of $40.65, as well as support at its 200-day MA of $38.50.

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

In the past 52 weeks, Udr Inc share prices have been bracketed by a low of $32.88 and a high of $42.98 and closed yesterday at $40.08, 22% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

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