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After Yesterday's Rally of 1.18% Shares Could Potentially Pullback

By Shiri Gupta

Equity Residential (NYSE:EQR) traded in a range yesterday that spanned from a low of $67.08 to a high of $68.55. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $67.23 on volume of 943,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Equity Residential share prices have moved between a 52-week high of $82.39 and a 52-week low of $61.90 and are now trading 10% above that low price at $68.14 per share. 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 is monitoring the recent change of momentum in Equity Residential. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Equity Residential in search of a potential trend change.

Keywords: rebounders equity residential

Ticker(s): EQR