A quick look at yesterday: the real estate investment trust plunged into the red after losing 4.24%, declining to $111.46.
Amid the market gloom, United States CFTC Crude Oil speculative net positions released yesterday at 19:30 UTC with a figure of 252,500, while the previous figure was 278,300. United States CFTC Gold speculative net positions released yesterday at 19:30 UTC with a figure of 116,100, while the previous figure was 126,300. United States CFTC Nasdaq 100 speculative net positions came out at 3,000.
ProLogis made an initial break below its 21 day Simple Moving Average at $112.19, a possible indication of a forthcoming negative trend. ProLogis broke through the $115.45 support line and dropped $4 below it.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting ProLogis to extend its recent losses.
Some optimism can drawn from the fact that United States Pending Home Sales is projected to outperform its last figure with -5%, having previously been at -10.2%. The figure will be published tomorrow at 15:00 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -2.49 million. It previously stood at -3.69 million; data will be released tomorrow at 15:30 UTC.
Furthermore, United States ADP Nonfarm Employment Change (Nov) is expected tomorrow at 13:15 UTC.
The stock has been trending positively for about a month. ProLogis hit a significant low of $98.9 around a month ago, but has since recovered 17.68%.