Prologis Inc

PLD is in a clear downtrend after breaking a key support level on strong volume. The medium-term bias is bearish, reinforced by active support failure and successive lower highs & lower lows. Short-term price is extended below falling EMAs and RSI remains oversold with no bullish divergence, suggesting timing is unfavorable for new shorts until a relief rally into EMAs or the broken support line is rejected. Execution is thus deferred (Trim) pending a clear rejection at resistance.

• ↑Core FFO $1.63/share beat consensus; occupancy at 95.5%
• ↑Record 67M sqft leases this quarter drove top-line demand
• ↓Negative earnings yield raises overvaluation concerns among investors