Possible Bearish Inside Day Candle Pattern Detected for UDR (NYSE:UDR)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in UDR (NYSE:UDR) based on the price action in the company's shares. Yesterday's price range of $34.47 and $34.87 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 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 6.3% for shares of UDR based on a current price of $34.86 and an average consensus analyst price target of $37.07. The stock should find initial resistance at its 200-day moving average (MA) of $35.30 and further resistance at its 50-day MA of $36.52.
UDR, Inc. is a self-administered real estate investment trust. The Company owns, operates, and develops apartment communities located nationwide.
UDR share prices have moved between a 52-week high of $38.61 and a 52-week low of $30.03 and closed yesterday at 16% above that low price at $34.86 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.
SmarTrend is tracking the current trend status for UDR and will alert subscribers who have UDR in their portfolio or watchlist when shares have changed trend direction.
Keywords: bearish am inside day candle