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RECTANGLE – INDEPENDENCE REALTY TRUST INC

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the watchlist section Independence Realty Trust, Inc. listed on the New York Stock Exchange.

INDEPENDENCE REALTY TRUST INC (IRT.N)

Independence Realty Trust, Inc. is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The stock is listed on the New York Stock Exchange. Price chart formed a 4 month-long rectangle with the horizontal boundary acting as strong resistance at 12.30 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 12.65 levels will confirm the breakout from the 4 month-long rectangle with the possible chart pattern price target of 14.0 levels.


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