AVB slips to lowest close since March 23rd
Moving lower for the 5th day in a row, AVB finished Thursday at 158.52 losing $0.98 (-0.61%). Today's closing price of 158.52 marks the lowest close since March 23rd. Trading $0.71 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 158.82, the market confirms its breakout through the prior session's low having traded $0.66 below it intraday.
Thursday's trading range was $1.80 (1.13%), that's below last trading month's daily average range of $2.54. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 156.74.
The stock shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.
Further selling might move prices lower should the market test April's close-by low at 157.90.
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.
|White Candle||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|RSI(14) above 70||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
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