DDR Corp. operates as a real estate investment trust (REIT) in the United States. The company engages in acquiring, developing, redeveloping, owning, leasing, and managing shopping centers, mini-malls, and lifestyle centers. As of February 5, 2007, it owned or managed approximately 461 shopping centers and 7 business centers, as well as 1,170 acres of undeveloped land. The company qualifies as a REIT for federal income tax purposes. As a REIT, the company would not be subject to federal income tax to the extent that it distributes at least 90% of its taxable income to its shareholders. DDR Corp. was founded in 1965 and is headquartered in Beachwood, Ohio.
To review DDR’s stock, please take a look at the 1-year chart of DDR (DDR corporation) below with my added notations:
DDR has created a couple of important price levels to watch. First, DDR has formed a clear resistance at $15 (navy), which would also be a 52-week high breakout if the stock could manage to break above it. In addition, the stock is climbing a short term, up-trending support level (blue) over the last (2) months. These two levels combined have DDR stuck within a common chart pattern known as an Ascending Triangle. Eventually, the stock will have to break one of those two levels.
The Tale of the Tape: DDR has an up trending support and a 52-week resistance level to watch. A long trade could be made on a breakout above the $15 resistance. A break below the up trending support could be an opportunity to enter a short trade.
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