Prologis, Inc. (PLD) , a well-known REIT, is down sharply Tuesday. Let's check out the charts of this leader in logistics real estate solutions.
In the daily candlestick chart of PLD, below, we can see a mixed picture. Prices have rallied back towards the underside of an area that should act as resistance. The slopes of the 50-day moving average line and the 200-day moving average line are negative and we are close to a bearish death cross. A death cross is a sell signal generated by the 50-day average line going below the 200-day average line.
The trading volume during the rebound this month has not been strong, suggesting that investors are not rushing in to take advantage of the lower prices around the middle of the month. The daily On-Balance-Volume (OBV) line shows a quick and steep rise within a longer-term decline.
The Moving Average Convergence Divergence (MACD) oscillator has turned upwards for a cover shorts buy signal but it is still well below the zero line and an outright buy signal.