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March 16, 2023A quick look at yesterday: ProLogis moves 0.15% to close at $120 yesterday.
Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, ProLogis's upper Bollinger Band® is at $129.3 and the lower is $117.68.
All in all, the technical analysis suggests ProLogis has no clear-cut direction.
Data to be released today might clear up some of the market fog as United States Philadelphia Fed Manufacturing Index (Mar) is scheduled for today at 12:30 UTC. United States Initial Jobless Claims is projected to outperform its last figure with 205,000. It previously stood at 211,000; data will be released today at 12:30 UTC. United States Building Permits (Feb) is expected today at 12:30 UTC.
Trending downwards for around a month. The US REIT has fallen back around 30.74% from the significant high of $173 set 10 months ago.
