UPFINA: New Home Inventory Forecasts A Recession
It seems like almost every new data point on housing shows weakness. That’s because even though millennials are entering their prime age for home buying, starter homes have become unaffordable. Housing prices for houses less than 75% of the cost of median houses increased 8.9% from September 2016 to September 2017 which was above the 6.4% increase for all homes. Millennials are delaying home buying which is also delaying peak demand. The most common age is 27 in 2018. Millennials waiting until their early 30s to buy a house pushes off this demand. Even though the labor market is extremely robust as weekly wage growth is at a cycle high and the underemployment rate is at a cycle low, shelter inflation outperforming overall CPI has taken a toll on affordability.
RWO's Stochastic Oscillator remains in oversold zone for 8 days
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where RWO's RSI Indicator exited the oversold zone, of 23 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where RWO advanced for three days, in of 336 cases, the price rose further within the following month. The odds of a continued upward trend are .
RWO may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 331 cases where RWO Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on May 12, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on RWO as a result. In of 88 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for RWO turned negative on May 15, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 45 similar instances when the indicator turned negative. In of the 45 cases the stock turned lower in the days that followed. This puts the odds of success at .
RWO moved below its 50-day moving average on May 16, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for RWO crossed bearishly below the 50-day moving average on May 24, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where RWO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Fundamental Analysis (Ratings)
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category GlobalRealEstate
RWO and
Correlation & Price change
A.I.dvisor indicates that over the last year, RWO has been closely correlated with REET. These tickers have moved in lockstep 99% of the time. This A.I.-generated data suggests there is a high statistical probability that if RWO jumps, then REET could also see price increases.
| Ticker / NAME | Correlation To RWO | 1D Price Change % | ||
|---|---|---|---|---|
| RWO | 100% | +0.23% | ||
| REET - RWO | 99% Closely correlated | +0.27% | ||
| RITA - RWO | 97% Closely correlated | +0.34% | ||
| AVRE - RWO | 94% Closely correlated | +0.20% | ||
| GQRE - RWO | 92% Closely correlated | +0.18% | ||
| AWP - RWO | 87% Closely correlated | +0.27% | ||
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