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ThecoinrepublicStockUDR Stock (NYSE: UDR) Splits Major Support,...
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UDR Stock (NYSE: UDR) Splits Major Support, Will UDR Retest $30?

UDR Inc. (NYSE: UDR) stock price has slipped below the crucial support zone of $40, indicating bearishness for the past sessions. Moreover, the price action highlights the seller interest. Meanwhile, buyers looked trapped and started unwinding their positions due to the fear amid the negative market sentiments. Furthermore, the chart shows that UDR stock has split its prominent neckline of $38, which has been protected by bulls since 2022 and is now smashed with a massive volume spurt. Moreover, it indicates that a major block of sellers has now made short positions and is looking to trap the overwhelmed bulls.

UDR stock price slipped below the significant moving averages and showed seller dominance. Furthermore, the chart structure shows the short buildup activity, and sellers are trapping the bulls and succeeding. However, bulls will likely retest the neckline of $38 and attempt to regain the strength. At the strike price of $35, there was open interest of 55 thousand shares on the put side, which was above the call side.

At press time, UDR stock price is trading at $35.67 with a flat close in yesterday’s session, suggesting that bulls have lost momentum and the gains. Furthermore, the trading volume increased by 1.34% to 2.829 Million, and the market cap is $11.753 Billion. However, analysts have maintained a neutral rating with a yearly target price of $44.85, suggesting volatility may continue in the upcoming sessions.

UDR, Inc. is a real estate investment trust which owns, operates, acquires, renovates, develops, redevelops, disposes of, and manages multifamily apartment communities. It engages in the multi-family real estate investment trust business. The firm operates through the Same-Store Communities and Non-Mature Communities/Other segments. The Same-Store Communities segment pertains to properties that are acquired, developed, and stabilized occupancy. 

Will UDR Stock Regain Strength or Continue to Slip?

UDR Stock (NYSE: UDR) Splits Major Support, Will UDR Retest $30?
Source: UDR Stock Price Chart At TradingView

On the daily charts, UDR stock price is below the neckline of $40 highlighting that past sessions were bearish. Moreover, the chart showcased that UDR stock is now initiating a fresh selloff and highlights the beginning of a downtrend. After implying multiple times efforts, bulls failed to surpass the 200-day EMA hurdle and is below the cluster of $50. Furthermore, the price has slipped below the 50% fib zone, indicating a negative outlook for the following sessions.

The RSI curve stayed below the oversold region and is waiting for a rebound. However, it shows a bullish divergence but needs a strong momentum to initiate the rebound.

The MACD shows a bearish crossover and red bars on the histogram, suggesting a negative outlook for the upcoming sessions.

Summary 

UDR stock price has slipped below the crucial neckline of $40 and showed a fresh selloff in the past sessions. Moreover, the trend is favoring the bears and suggests that follow-on selling will continue, and UDR stock may retest the lows of $25 soon.

Technical Levels

Support Levels: $30 and $25

Resistance Levels: $40 and $50

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Nancy J. Allen
Nancy J. Allen
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and a minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
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