AVB closes below its opening price unable to hold early session gains

AvalonBay Communities, Inc. (AVB) Technical Analysis Report for Apr 16, 2018

Highlights

AVB closes below its opening price unable to hold early session gains
AVB unable to break through key resistance level
AVB fails to close above 100-day moving average
AVB ends the day on a bearish note closing near the low of the day
AVB closes within previous day's range

TQ Sentiment

Report Sentiment: 57% Bearish
Technical Forecast:

Overview

AVB finished Monday at 166.00 losing $0.53 (-0.32%). Trading $1.36 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for AVB

Volatility

Monday's trading range was $2.46 (1.47%), that's slightly below last trading month's daily average range of $2.95. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 164.63. Unable to break through the key technical resistance level at 167.52, the stock closed below it after spiking as high as 168.23 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After spiking up to 168.23 during the day, the share found resistance at the 100-day moving average at 167.15.

Trend

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

Order Flow

Selling could speed up should prices move below the nearby swing low at 164.54 where further sell stops might get triggered. Trading close to February's high at 170.25 we could see further upside momentum if potential buy stops at the level get activated.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.

Market Conditions for AvalonBay Communities, Inc.

Loading Market Conditions for $AVB (AvalonBay Communities, Inc.)...
Latest Report:

AVB closes within prior day's range

Sep 18, 2018
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