ARE closes lower for the 6th day in a row


Alexandria Real Estate Equities Inc (ARE) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
ARE closes lower for the 6th day in a row
ARE ends the day on a bearish note closing near the low of the day
ARE breaks below previous session low
ARE falls to lowest close since April 24th
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

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.

Daily chart for ARE
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 121.14.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Trading close to March's low at 118.06 we could see further downside momentum if potential sell stops at the level get triggered.

Conclusion

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
ConditionForecastDirectionWinAvgWorstBestEvents
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
More market conditions identified for TQ Pro members...
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Latest Report:

ARE breaks key support level

Jul 16, 2018
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