Developers Diversified Realty functions in the US as a real estate investment trust (REIT) operating as a fully integrated real estate company which acquires, develops, leases and manages shopping centres, mini-malls and lifestyle centres. Price action has recently broken Neckline support at $61 of a bearish Head & Shoulders top formation. More recently, a 12-month uptrend which saw stock price gain 50% has broken support at $60. RSI is signalling oversold conditions; therefore a rebound towards the underside of the broken trendline, and possibly, towards the Neckline support of the Head & Shoulders formation may provide a low-risk short entry point with a stop-loss close above $61.
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