AVB runs into sellers around 169.65 for the third day in a row


AvalonBay Communities, Inc. (AVB) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
AVB pushes through key resistance level
AVB runs into sellers around 169.65 for the third day in a row
AVB still stuck within tight trading range
AVB closes within previous day's range
AVB ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

AVB ended Thursday at 168.18 gaining $1.62 (0.97%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for AVB
Volatility

Thursday's trading range was $3.58 (2.14%), that's above last trading month's daily average range of $2.69. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 165.50 and 169.90 which it has been in now for the last trading week.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

Breaking through the key resistance level at 167.96 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 169.70. The share ran into sellers again today around 169.65 for the third trading day in a row after having found sellers at 169.90 in the prior session and at 169.42 two days ago.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying could speed up should prices move above the nearby swing high at 169.90 where further buy stops might get activated. Selling could accelerate should prices move below the close-by swing low at 165.50 where further sell stops might get triggered. As prices are trading close to June's low at 164.31, downside momentum could speed up should the stock mark new lows for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for AvalonBay Communities, Inc.
ConditionForecastDirectionWinAvgWorstBestEvents
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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