Equity Residential (EQR) Upgrade Alert, Watch for 0.1% Technical Downtrend Reversal

Equity Residential (NYSE:EQR) upgraded to Neutral, $28 target, at UBS. The stock closed Friday at $28.88 on volume of 7,614,941 shares, above average daily volume of 4,601,795.

Equity Residential is currently below its 50-day moving average of $29.23 and should find support at its 200-day moving average of $23.90.

SmarTrend is bearish on shares of EQR and our subscribers received a Downtrend alert on October 02, 2009 at $28.91, which has returned 0.1% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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Related terms: equity, market, nyse, residential, securities