FRT breaks key support level
Federal Realty Investment Trust (FRT) Technical Analysis Report for Sep 14, 2018
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.
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.
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.
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.
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||Direction||Win Rate||Win Rate||Exit Day||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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