FRT breaks key support level

Federal Realty Investment Trust (FRT) Technical Analysis Report for Sep 14, 2018

Highlights

FRT crashes, loses $1.81 (-1.38%) within a single day
FRT breaks key support level
FRT breaks below 20-day moving average
FRT finds buyers at key support level
FRT breaks below previous session low

TQ Sentiment

Report Sentiment: 66% Bearish
Technical Forecast:

Overview

FRT finished the week -0.07% lower at 129.61 after tanking $1.81 (-1.38%) today. This is the biggest single day loss in over a month. Today's closing price of 129.61 marks the lowest close since September 4th. Closing below Thursday's low at 130.74, the market confirms its breakout through the prior session's low having traded $2.70 below it intraday.

Daily chart for FRT

Volatility

Friday's trading range was $2.98 (2.27%), that's far above last trading month's daily average range of $1.53. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way below average.

Support/Resistance

After trading as low as 128.04 during the day, the stock bounced off the key support level at 128.46. The failure to close below the support could increase that levels importance as support going forward. Breaking below the key support level at 130.97 today, it is now likely to act as resistance going forward.

Trend

Though the share is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive. Federal Realty broke below the 20-day moving average at 130.12 today for the first time since July 17th.

Conclusion

While classical technical analysis indicates a 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 Rate Exit Day Events
Close near high of period TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to Swing High 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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