Trade Idea: AVB looking weakAVB 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.
AVB
AVB - Common Wedge FormationTwo 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
Avalonbay Communities (AVB) reversal incoming!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. Net income reflects Development/Redevelopment segment income increase from$7.1M to $20M, Other Stablized segment income increase of 11% to $36M.
Wells Fargo analyst Tammi Fique maintains AvalonBay Communities (NYSE:AVB) with a Overweight and raises the price target from $225 to $242.
According to 10 analyst offering 12-month price targets in the last 3 months, AvalonBay Communities has an average price target of $236.1 with a high of $285.00 and a low of $218.00.
AVB has been on a decline for the past month but has been in trending up for approximately 1 year.
It has reached support at $220
Resistance is at $240
Buyers at all time low since April '20 but recently demonstrated buyers stepping up
AVB: The resistance level is broken.The resistance level has been broken with the minimum long-term target level in the region of 320.
AVB: Avalonbay Communities - Long Idea at Bottom SupportStock bounced off bottom horizonal support line. Look for price to hit upper horizontal resistance.
AvalonBay Communities looks so tasty!AvalonBay, monthly timeframe: Mirror level + Side of Bollinger bands + Hammer + Spinning Top + Nice discount
