Will UDR INC breakout?

Our stockscreener has identified a possible breakout setup on UDR INC (NYSE:UDR). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:UDR for potential opportunities.

Insights from Technical Analysis

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 7 out of 10 to UDR. Although UDR is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• In the last month UDR has a been trading in the 37.03 - 40.24 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been consolidating recently, this may present a good entry opportunity.
• UDR is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so UDR is lagging the market.

Our latest full technical report of UDR contains the most current technical analsysis.

How does the Setup look for NYSE:UDR

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:UDR scores a 9 out of 10:

UDR has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 39.68. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 38.36, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for UDR in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:UDR be traded?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Of course, there are many ways to trade or not trade NYSE:UDR and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.