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Possible Bullish Inside Day Candle Pattern Detected for DDR (NYSE:DDR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in DDR (NYSE:DDR) based on the price action in the company's shares. Today's price range of $9.85 and $9.96 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. Traders and investors interested in shares of DDR may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 58.1% for shares of DDR based on a current price of $9.93 and an average consensus analyst price target of $15.69. DDR shares should first meet resistance at the 200-day moving average (MA) of $16.57 and find additional resistance at the 50-day MA of $17.36.

DDR share prices have moved between a 52-week high of $19.92 and a 52-week low of $9.61 and are now trading 3% above that low price at $9.93 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%.

DDR Corporation is a real estate investment trust that develops, leases, and manages shopping centers. The Company's properties are located primarily in the East and Midwest United States as well as joint venture properties in Brazil.

SmarTrend recommended that its subscribers protect gains by selling shares of DDR on September 12th, 2016 by issuing a Downtrend alert when the shares were trading at $18.25. Since that call, shares of DDR have fallen 46.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle

Ticker(s): DDR