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Possible Bullish Inside Day Candle Pattern Detected for Udr Inc (NYSE:UDR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Udr Inc (NYSE:UDR) based on the price action in the company's shares. Yesterday's price range of $33.26 and $33.79 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 Udr Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

UDR, Inc. is a self-administered real estate investment trust. The Company owns, operates, and develops apartment communities located nationwide.

Udr Inc has overhead space with shares priced $33.44, or 18.1% below the average consensus analyst price target of $40.82. Udr Inc shares should first meet resistance at the 200-day moving average (MA) of $35.30 and find additional resistance at the 50-day MA of $36.52.

Udr Inc share prices have moved between a 52-week high of $40.71 and a 52-week low of $32.79 and closed yesterday at 2% above that low price at $33.44 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Udr Inc on December 21st, 2017 by issuing a Downtrend alert when the shares were trading at $37.93. Since that call, shares of Udr Inc have fallen 12.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle udr inc

Ticker(s): UDR