FRT breaks below prior session low


Federal Realty Investment Trust (FRT) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
FRT closes below its opening price unable to hold early session gains
FRT ends the day on a bearish note closing near the low of the day
FRT runs into sellers again around 126.43
FRT breaks below previous session low
FRT falls to lowest close since August 1st
TQ Sentiment
Report Sentiment: 62% Bearish
Technical Forecast:
Overview

FRT finished the week -2.48% lower at 125.04 after losing $0.93 (-0.74%) today. Today's closing price of 125.04 marks the lowest close since August 1st. Trading $0.76 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 125.24, Federal Realty confirms its breakout through the previous session's low having traded $0.50 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for FRT
Volatility

Friday's trading range was $1.69 (1.34%), that's below last trading month's daily average range of $2.16. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bearish Outside Bar.

Support/Resistance

Prices are trading close to a key support level at 124.36. After having been unable to move above 126.31 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 126.43.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Selling could speed up should prices move below the nearby swing low at 124.36 where further sell stops might get activated.

Conclusion

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

Market Conditions for Federal Realty Investment Trust
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
White Candle TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes 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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