Nov. 13 at 1:53 AM
$UDR is currently trading at
$35.07, below its 30-day moving average (MA30) of
$35.49 and 50-day moving average (MA50) of
$36.43, indicating a bearish trend. The RSI at 36.7 suggests that the stock is approaching oversold territory, which may lead to a potential reversal. The recent high of
$39.62 and low of
$32.94 over the last 60 days indicates a range-bound environment, with the current price closer to the lower end of this range.
For a trade plan, consider entering a long position if the price breaks above
$35.49 (MA30) with confirmation. Set a stop loss at
$34.50 to limit potential losses. Target 1 could be set at
$37.00, aligning with a resistance level, while Target 2 could be at
$38.00, near the recent high.
This strategy leverages the potential for a rebound while managing risk effectively.
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