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Watch for Continued Gains in Shares of Digital Realty (DLR)

By Nick Russo

Shares of Digital Realty (NYSE:DLR) traded at a new 52-week high today of $129.54. This new high was reached on below average trading volume as 113,000 shares traded hands, while the average 30-day volume is approximately 1 million shares.

Digital Realty (NYSE:DLR) is currently priced 5.2% above its average consensus analyst price target of $122.81. The stock should find initial support at its 50-day moving average (MA) of $119.79 and further support at its 200-day MA of $115.84.

Over the past year, Digital Realty has traded in a range of $100.05 to $129.54 and is now at $129.54, 29% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.4%.

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

SmarTrend recommended that subscribers consider buying shares of Digital Realty on August 12th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $119.68. Since that recommendation, shares of Digital Realty have risen 7.4%. We continue to monitor DLR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows digital realty

Ticker(s): DLR