AVB has a death cross that is approaching.
This pattern still favor's a near term bounce but will likely resume its longer term downtrend once buy the dippers are exhausted.
This is a trend that is not your friend.
The PEAD projected a Bullish outlook for $AVB after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 75%.
Two wedge formations can be identified on chart, this wedge then leads to a low (1), quickly recovers to the major trend line (2)
Continuation of the major trend line in green is likely
Trade plan:
Buy long - $220-$225
Stop loss - $214
Target - $240 resistance
AvalonBay Communities (AVB) -
For the six months ended 30 June 2021, AvalonBay Communities Inc revenues decreased 6% to $1.11B. Net income applicable to common stockholders increased 74% to $588.9M. Revenues reflect NAREIT FFO - Per Share - Diluted - Total decrease of 13% to $1.96....
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The vol profiles for AVB are quite amazing. Long term value at 133 is likely to keep attracting price.
The POC at 161 has not built enough volume yet to escape the higher value YET. But it looks nice and wide and looks like it will.
So I would say that the higher POC at 172 is not part of the leg down, which is why I'm making the symmetry projection down from...
