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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 $17.31 and $17.45 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.

DDR has overhead space with shares priced $17.36, or 8.5% below the average consensus analyst price target of $18.96. The stock should find initial support at its 50-day moving average (MA) of $17.36 and further support at its 200-day MA of $16.57.

In the past 52 weeks, DDR share prices have been bracketed by a low of $14.71 and a high of $18.59 and are now at $17.36, 18% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

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

Keywords: bullish inside day candle

Ticker(s): DDR