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Exploring DIGITAL REALTY TRUST INC's Technical Signals and Breakout Potential.

By Mill Chart

Last update: May 14, 2024

Our stock screener has spotted DIGITAL REALTY TRUST INC (NYSE:DLR) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:DLR.

DLR Daily chart on 2024-05-14

Deciphering the Technical Picture of NYSE:DLR

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

We assign a technical rating of 8 out of 10 to DLR. In the last year, DLR was one of the better performers, but we do observe some doubts in the very recent evolution.

  • The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
  • When comparing the yearly performance of all stocks, we notice that DLR is one of the better performing stocks in the market, outperforming 89% of all stocks. On top of that, DLR also shows a nice and consistent pattern of rising prices.
  • DLR is part of the Specialized REITs industry. There are 28 other stocks in this industry. DLR outperforms 100% of them.
  • DLR is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so DLR is lagging the market slightly.
  • In the last month DLR has a been trading in the 135.54 - 152.35 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
  • Volume is considerably higher in the last couple of days.

For an up to date full technical analysis you can check the technical report of DLR

How does the Setup look for NYSE:DLR

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:DLR scores a 9 out of 10:

Besides having an excellent technical rating, DLR also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 142.20, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NYSE:DLR?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Of course, there are many ways to trade or not trade NYSE:DLR 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.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.

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DIGITAL REALTY TRUST INC

NYSE:DLR (5/29/2024, 7:04:00 PM)

After market: 141.43 0 (0%)

141.43

-2.34 (-1.63%)

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