Saturday, May 2, 2015

$VNQ Ichimoku Cloud sell signal if candle closes below Tenkan Sen on monthly chart

Monthly Chart
  • Long-term trend is bullish as all Ichimoku Cloud elements are properly aligned, but stock is showing bearish signs
  • Tenkan Sen (blue line) is providing support on monthly chart with price above the cloud
  • Tenkan Sen and Kijun Sen (red line) are flattening revealing recent stock price pressure and slowing momentum
  • Leading cloud span is pointing toward sideways price action
Conclusion
Investors should start scaling out of $VNQ if price closes below Tenkan Sen (sell signal) which is currently at $79.23.

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