AIV closes higher for the 3rd day in a row
Apartment Investment and Management Company (AIV) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, AIV finished Thursday at 33.01 gaining $2.50 (8.19%), notably outperforming the S&P 500 (6.24%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 31.60, the market confirmed its breakout through the prior session high after trading up to $1.77 above it intraday.
Daily Candlestick Chart (AIV as at Mar 26, 2020):
Thursday's trading range has been $2.95 (9.62%), that's slightly below the last trading month's daily average range of $3.30. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently strongly higher than usual for AIV.
One bullish candlestick pattern matches today's price action, the White Candle.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Closed above last periods high" stand out. Its common bullish interpretation has been confirmed for Apartment Investment. Out of 496 times, AIV closed higher 55.44% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after three trading days, showing a win rate of 55.04% with an average market move of 0.06%.