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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Digital Realty Trust (NYSE:DLR) based on the price action in the company's shares. Yesterday's price range of $85.72 and $86.61 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 Trust 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, shares of Digital Realty Trust have traded between a low of $60.66 and a high of $91.84 and closed yesterday at $86.17, which is 42% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.9%.

Digital Realty Trust (NYSE:DLR) is currently priced 12.3% above its average consensus analyst price target of $75.53. Digital Realty Trust shares have support at the 50-day moving average (MA) of $85.35 and additional support at the 200-day MA of $74.03.

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's property portfolio is located throughout the United States and in England.

SmarTrend is monitoring the recent change of momentum in Digital Realty Trust. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Digital Realty Trust in search of a potential trend change.

Keywords: bullish am inside day candle digital realty trust

Ticker(s): DLR