AVB slips to lowest close since March 23rd

AvalonBay Communities Inc. (AVB) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


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


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 Candlestick Chart (AVB as at May 17, 2018):

Daily technical analysis candlestick chart for AvalonBay Communities Inc. (AVB) as at May 17, 2018

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.

Market Conditions for AVB as at May 17, 2018

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