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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 $45.80 and $45.98 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 (NYSE:UDR) defies analysts with a current price ($45.88) 15.5% above its average consensus price target of $38.75. The stock should find initial resistance at its 200-day moving average (MA) of $46.68 and further resistance at its 50-day MA of $47.46.

In the past 52 weeks, Udr Inc share prices have been bracketed by a low of $38.36 and a high of $50.61 and closed yesterday at $45.88, 20% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Udr Inc on November 7th, 2019 by issuing a Downtrend alert when the shares were trading at $47.74. Since that call, shares of Udr Inc have fallen 4.0%. 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