VNO ends the day on a bearish note closing near the low of the day


Vornado Realty Trust (VNO) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
VNO breaks key support level
VNO closes below its opening price unable to hold early session gains
VNO closes lower for the 5th day in a row
VNO ends the day on a bearish note closing near the low of the day
VNO breaks below previous session low
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

Moving lower for the 5th day in a row, VNO finished Thursday at 66.25 losing $0.39 (-0.59%). Today's closing price of 66.25 marks the lowest close since April 26th. Trading $0.59 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 66.58, Vornado Realty confirms its breakout through the prior session's low having traded $0.52 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for VNO
Volatility

Thursday's trading range was $1.09 (1.64%), that's slightly below last trading month's daily average range of $1.25. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking below the key support level at 66.36 today, it is now likely to act as resistance going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

With prices trading close to this year's low at 64.13, downside momentum might accelerate should the share break out to new lows for the year. Further selling could move prices lower should the market test April's close-by low at 64.53.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only bearish while our quantitative statistics show a very bearish sentiment.

Market Conditions for Vornado Realty Trust
Condition Forecast Direction Win Avg Worst Best Events
Decisive Up Move TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
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