ARE closes lower for the 6th day in a row
Moving lower for the 6th day in a row, ARE finished Thursday at 121.75 losing $0.89 (-0.73%). Today's closing price of 121.75 marks the lowest close since April 24th. Closing below Wednesday's low at 122.42, the share confirms its breakout through the previous session's low having traded $0.77 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Thursday's trading range was $1.45 (1.18%), that's below last trading month's daily average range of $2.06. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 121.14.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Trading close to March's low at 118.06 we could see further downside momentum if potential sell stops at the level get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.
Market Conditions for Alexandria Real Estate Equities Inc
|Bullish Bounce off SMA 20||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Gap Down||TQ Pro Members Only|
|Price broke through Technical Support S1||TQ Pro Members Only|
|RSI(2) below 20||TQ Pro Members Only|
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