AVB slips to lowest close since March 23rd


AvalonBay Communities, Inc. (AVB) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
AVB closes below its opening price unable to hold early session gains
AVB closes lower for the 5th day in a row
AVB breaks below previous session low
AVB falls to lowest close since March 23rd
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

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.

Daily chart for AVB
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 156.74.

Trend

The stock shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Further selling might move prices lower should the market test April's close-by low at 157.90.

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.
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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Latest Report:

AVB pushes through key resistance level

Aug 17, 2018
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