DRE still stuck within tight trading range

Duke Realty Corp (DRE) Technical Analysis Report for Sep 14, 2018

Highlights

DRE finds buyers at key support level
DRE finds support at 100-day moving average
DRE still stuck within tight trading range
DRE closes within previous day's range
DRE ends the day indecisive

TQ Sentiment

Report Sentiment: 28% Bullish
Technical Forecast:

Overview

DRE finished the week 1.2% higher at 28.74 after losing $0.11 (-0.38%) today on low volume. 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 DRE

Volatility

Friday's trading range was $0.38 (1.32%), that's slightly above last trading month's daily average range of $0.37. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 28.40 and 28.96 which it has been in now for the last trading week.

Support/Resistance

After trading as low as 28.40 during the day, the market bounced off the key support level at 28.41. The failure to close below the support might increase that levels importance as support going forward. Prices are trading close to the key resistance level at 28.81. After trading as low as 28.40 during the day, the share found support at the 100-day moving average at 28.43.

Trend

Duke Realty shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Buying could speed up should prices move above the close-by swing high at 28.96 where further buy stops might get activated. With prices trading close to this year's high at 29.48, upside momentum could accelerate should the stock be able to break out to new highs for the year.

Conclusion

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

Market Conditions for Duke Realty Corp

Condition Forecast Direction Win Rate Exit Day Events
Close near high of period TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish Bounce off SMA 50 TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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DRE pushes through key resistance level

Sep 17, 2018
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