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- 1 UDR stock price is below the crucial support zone, showing bearishness.
- 2 Buyers started unwinding their positions and looked trapped.
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?
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 views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
