Bullish Signals Abound for Federal Realty Investment Trust

 | Jul 09, 2018 | 1:59 PM EDT
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Federal Realty Investment Trust (FRT) has been in "rally mode" from its February low. A number of bullish signals can be seen on the charts now. Let's take a look.

In the daily bar chart of FRT, below, we can see that prices have closed above the flattening 200-day moving average line. The 50-day moving average line is rising and not far from crossing above the 200-day line for a bullish golden cross.

The daily On-Balance-Volume (OBV) line was neutral from July to February as prices declined and has been rising from February signaling more aggressive buying. The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line since May for a bull signal.

In this weekly bar chart of FRT, below, we can see that prices have been above the flattening 40-week moving average line for the past three weeks. The weekly OBV line has been bullish for a long time. The weekly MACD oscillator gave a cover shorts signal in April and is close to moving above the zero line for an outright go long signal.

In this Point and Figure chart of FRT, below, we can see an upside price target of $159.00.

Bottom line: Aggressive traders can approach FRT from the long side risking below $120.

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