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Possible Bullish Inside Day Candle Pattern Detected for Digital Realty (NYSE:DLR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Digital Realty (NYSE:DLR) based on the price action in the company's shares. Yesterday's price range of $117.25 and $117.85 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. Traders and investors interested in shares of Digital Realty may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Digital Realty has overhead space with shares priced $118.71, or 3.3% below the average consensus analyst price target of $122.81. The stock should find initial resistance at its 50-day moving average (MA) of $119.53 and further resistance at its 200-day MA of $121.14.

Over the past year, Digital Realty has traded in a range of $100.05 to $136.32 and closed yesterday at $118.71, 19% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has remained constant.

Digital Realty Trust, Inc. owns, acquires, repositions, and manages technology-related real estate. The Company's properties contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise data center tenants. Digital property portfolio is located throughout the United States and in England.

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

Keywords: bullish am inside day candle digital realty

Ticker(s): DLR