PLD fails to close above 200-day moving average
Prologis (PLD) Technical Analysis Report for May 17, 2018
Moving lower for the 5th day in a row, PLD finished Thursday at 63.28 losing $0.12 (-0.19%). Today's closing price of 63.28 marks the lowest close since April 16th.
Daily Candlestick Chart (PLD as at May 17, 2018):
Thursday's trading range was $0.62 (0.98%), that's below last trading month's daily average range of $0.86. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.
Prices are trading close to a key support level at 63.07. After spiking up to 63.71 during the day, Prologis found resistance at the 200-day moving average at 63.60.
While the market is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.