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Watch for Continued Gains in Shares of UDR (UDR)

By David Diaz

Shares of UDR (NYSE:UDR) traded today at $40.38, breaking its 52-week high. So far today approximately 110,000 shares have been exchanged, as compared to an average 30-day volume of 1.7 million shares.

In the past 52 weeks, shares of UDR have traded between a low of $30.03 and a high of $40.38 and are now at $40.34, which is 34% above that low price. 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.

UDR (NYSE:UDR) defies analysts with a current price ($40.34) 9.0% above its average consensus price target of $36.71. The stock should discover initial support at its 50-day moving average (MA) of $36.52 and subsequent support at its 200-day MA of $35.30.

SmarTrend recommended that subscribers consider buying shares of UDR on February 27th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.40. Since that recommendation, shares of UDR have risen 10.4%. We continue to monitor UDR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows

Ticker(s): UDR