Boston, MA, 04/08/2014 (usastockreports) – DCT International Trust Inc (NYSE:DCT) (Closed at $7.74, Down 0.13%) opened positive but settled negative in the last hours of the trading session with less than average daily volumes. The company has announced the date of releasing its first quarter results and has already gone ex-dividend on April 2, 2014. The quarterly results guidance which company gave last quarter was in line with the expectations of the street. In anticipation of its quarterly results announcement scheduled on May 1, 2014 the stock may advance before the results are out.
Technically speaking the stock of DCT International Trust Inc (NYSE:DCT) has exhibited a pennant formation on daily charts which is bullish pattern. During the consolidation phase of a pennant formation the volumes tends to decrease which is apparent in the price chart. The accumulation phase of the stock is on and the stock can break out of the pattern any time soon. The break out above $8 can take stock to conservative targets of $9. The stock is trading strongly above its major moving averages of 50 and 200 DMA. Further the current readings of RSI are near 50 and positive MACD readings suggest favourable buy on the stock. Once the stock breaks out of this range the targets of $9 can be seen with the time frame of 20 to 25 trading sessions.
Currently the stock of DCT International Trust Inc (NYSE:DCT) is in consolidation phase between $7.5 and $7.97. Even the 50 day moving average also gives the support to the prices with the current reading at 7.61. Investors must keep a close eye on this stock and any breakout above $8 with volumes would be used as buying opportunity in this stock for immediate rise in prices and breaking the 52-week high of $8.45 made on May 22, 2013. The stop losses of $7.5 can be maintained in the stock once it breaks out above $8.
