• Return to Headlines

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

By Nick Russo

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. Yesterday's price range of $34.93 and $35.28 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 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.

Over the past year, UDR has traded in a range of $30.03 to $38.61 and closed yesterday at $35.14, 17% above that low. The 200-day and 50-day moving averages have moved 0.14% higher and 0.38% higher over the past week, respectively.

UDR (NYSE:UDR) has potential upside of 4.5% based on a current price of $35.14 and analysts' consensus price target of $36.71. UDR 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.

SmarTrend is tracking the current trend status for UDR and will alert subscribers who have UDR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle

Ticker(s): UDR