United Dominion Realty Trust Inc stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Dec 01, 2023)
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Given the current short-term trend, the stock is expected to fall -16.12% during the next 3 months and, with a 90% probability hold a price between $24.47 and $28.86 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
UDR Signals & Forecast
Mostly positive signals in the chart today. The United Dominion Realty Trust Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $33.47 and $33.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, November 01, 2023, and so far it has risen 9.52%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for United Dominion Realty Trust Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $31.81 and $31.62. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, United Dominion Realty Trust Inc finds support just below today's level at $31.81. If this is broken, then the next support from accumulated volume will be at $31.62 and $31.56.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.21 between high and low, or 3.62%. For the last week the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: $32.67 (-5.03%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (UDR) For The Upcoming Trading Day Of Monday 4th
For the upcoming trading day on Monday, 4th we expect United Dominion Realty Trust Inc to open at $34.09, and during the day (based on 14 day Average True Range), to move between $33.59 and $35.21, which gives a possible trading interval of +/-$0.81 (+/-2.36%) up or down from last closing price. If United Dominion Realty Trust Inc takes out the full calculated possible swing range there will be an estimated 4.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.19 (2.30%) than the support at $31.81 (7.53%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is United Dominion Realty Trust Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.254 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for United Dominion Realty Trust Inc of Monday, December 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 4, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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