I reviewed the charts of Vornado Realty Trust (VNO) on May 23, and wrote that "I worked in New York for the majority of my business career. I have seen ups and downs in the city's fortunes but it has always rebounded and reinvented itself. Optimistic and patient traders who can risk below $10 could probe the long side of VNO."
Let's check and see how the charts have changed in the past four weeks.
In this daily bar chart of VNO, below, I can see that prices have rallied since my last review on May 23. VNO has rallied above the 50-day moving average line and dipped to retest that indicator the other day. The declining 200-day moving average line intersects around $20 and could be tested in the weeks ahead.
The trading volume shows a pickup in turnover in June. The On-Balance-Volume (OBV) line improved in May and dipped in June but has not made a new low. The Moving Average Convergence Divergence (MACD) is above the zero line.