ALX - Rising Revenue is Not Enough Alexander's, Inc. operates as a real estate investment trust. The firm engages in leasing, managing, developing, and redeveloping its properties. Its operating properties are located in the greater New York City metropolitan area. The company was founded on May 16, 1955, and is headquartered in Paramus, NJ.
Despite some nontechnical indicators (i.e rising revenue & location), ALX seems positioned to continue losing value.
Fibonacci retracement from the previous All-Time High (ATH) is in a "red" zone, the lowest level of support in the trend. This could indicate "nowhere to go but up." So I decided to test that hypothesis with two indicators: 1) RSI and 2) Bollinger Bands. Both indicators insinuate an imminent downward price trend.
Entry: After support level at the time of publishing is broken.
Exit: After 5% -10% drop in price
ALX trade ideas
Short Idea.Alexander's Inc is a real estate investment trust which leases, manages, and develops properties. The company’s portfolio comprises retail and office properties located in metropolitan and suburban areas of New York City. Company is listed on the New York Stock Exchange.
Last week Price chart broke over four year-long trendline support as well as over a year-long horizontal support, which we called a confluence of support. This breakout could slip the stock at least 366.40 area in the coming days.