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Look for Shares of Equity Residenti to Potentially Rebound after Yesterday's 1.13% Sell Off

By David Diaz

Equity Residenti (NYSE:EQR) traded in a range yesterday that spanned from a low of $66.94 to a high of $67.96. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $67.48 on volume of 368,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Equity Residenti on August 1st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.34. Since that recommendation, shares of Equity Residenti have risen 4.3%. We continue to monitor EQR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Equity Residenti has traded in a range of $54.97 to $70.45 and is now at $67.43, 23% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

Keywords: rebounders equity residenti

Ticker(s): EQR