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ARE closes lower for the 6th day in a row


Technical Analysis Report for ARE - 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
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.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
6 Consecutive Lower Closes TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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