• Return to Headlines

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

By Shiri Gupta

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 $129.45 and $130.66 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.

In the past 52 weeks, Digital Realty share prices have been bracketed by a low of $100.05 and a high of $131.15 and closed yesterday at $129.85, 30% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

Digital Realty (NYSE:DLR) defies analysts with a current price ($129.85) 5.4% above its average consensus price target of $122.81. The stock should discover initial support at its 50-day moving average (MA) of $125.03 and subsequent support at its 200-day MA of $118.01.

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