FRT breaks below prior session low
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.
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.
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling could speed up should prices move below the nearby swing low at 124.36 where further sell stops might get activated.
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
|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|
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