COPT Defense Properties

After breaking below the August support cluster and rejecting short‐term EMAs on volume, CDP exhibits a Medium‐Term bearish bias. The current bounce into the 9‐ and 20-day EMAs offers a sell-into-resistance opportunity. Secular uptrend remains intact above the 200-day SMA, but failure to hold resistance would invalidate the bearish thesis.

• ↑Q2 FFO/share rose 4.4% YoY to $0.71, above guidance
• ↑FY27 defense budget seen rising ~30% to $1.1T, boosting demand
• ↓Analysts cut growth and FFO outlook on slowing demand momentum