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Shares of Equity Residenti Has Fallen Below Previous 52-Week Low

By Shiri Gupta

Shares of Equity Residenti (NYSE:EQR) traded today at $53.16, breaking its 52-week low. This new low was reached on below average trading volume as 206,000 shares traded hands, while the average 30-day volume is approximately 2.2 million shares.

Potential upside of 22.3% exists for Equity Residenti, based on a current level of $53.76 and analysts' average consensus price target of $65.74. Equity Residenti shares should first meet resistance at the 50-day moving average (MA) of $79.70 and find additional resistance at the 200-day MA of $81.94.

Over the past year, Equity Residentihas traded in a range of $53.16 to $89.55 and are now at $53.76. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.4% while the 200-day MA has slid 0.5%.

Equity Residential is a real estate investment trust. The Trust acquires, develops, and manages apartment complexes in the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Equity Residenti on February 27th, 2020 by issuing a Downtrend alert when the shares were trading at $80.91. Since that call, shares of Equity Residenti have fallen 31.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows equity residenti

Ticker(s): EQR