NNN pops to highest close since March 29th
National Retail Properties (NNN) Technical Analysis Report for Jun 14, 2019 | by Techniquant Editorial Team
NNN ended the week 1.45% higher at 55.28 after gaining $0.18 (0.33%) today, slightly outperforming the S&P 500 (-0.16%). Today's close at 55.28 marks the highest recorded closing price since March 29th. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range.
Daily Candlestick Chart (NNN as at Jun 14, 2019):
Friday's trading range has been $0.73 (1.33%), that's slightly below the last trading month's daily average range of $0.88. Things look different on the weekly timeframe, where the market's trading range of the last week has been above the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for NNN.
Prices are trading close to the key technical resistance level at 55.87 (R1).
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 55.87, upside momentum could speed up should the stock be able to break out to new highs for the year.