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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in UDR (NYSE:UDR) based on the price action in the company's shares. Today's price range of $34.93 and $35.14 is within yesterday'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 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 (NYSE:UDR) has potential upside of 4.6% based on a current price of $35.10 and analysts' consensus price target of $36.71. The stock should run into initial resistance at its 200-day moving average (MA) of $35.30 and subsequent resistance at its 50-day MA of $36.52.

UDR share prices have moved between a 52-week high of $38.61 and a 52-week low of $30.03 and are now trading 17% above that low price at $35.10 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

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

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

Keywords: bullish inside day candle

Ticker(s): UDR