DRE still stuck within tight trading range
Duke Realty Corp (DRE) Technical Analysis Report for Sep 14, 2018
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.
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.
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.
Duke Realty shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
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.
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||Direction||Win Rate||Win Rate||Exit Day||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|
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