* Great earnings
* General up trend
* High relative strength in the Real Estate sector
* Pays generous dividends
* Recently broke out the previous ATH from 2015 of $21.93
* Before that it consolidated between 18.66 and 20.46 for ~5 months
* After breaking out of $20.46 it create a base on top of base pattern and consolidated for ~2 months before breaking previous ATH
Trade Idea:
* You can enter now as indicated if you don't mind a little volatility
* Or you can wait for a slight discount by looking for entry opportunities near the 21.93 to 22.12 range
Note:
* This may be forming a higher handle to a cup and handle pattern. The rounding price action between 20.92 and 22.12 would serve as the cup.
* General up trend
* High relative strength in the Real Estate sector
* Pays generous dividends
* Recently broke out the previous ATH from 2015 of $21.93
* Before that it consolidated between 18.66 and 20.46 for ~5 months
* After breaking out of $20.46 it create a base on top of base pattern and consolidated for ~2 months before breaking previous ATH
Trade Idea:
* You can enter now as indicated if you don't mind a little volatility
* Or you can wait for a slight discount by looking for entry opportunities near the 21.93 to 22.12 range
Note:
* This may be forming a higher handle to a cup and handle pattern. The rounding price action between 20.92 and 22.12 would serve as the cup.
Comment:
We were originally a little early to the party but after that second entry price burst higher and is now holding pretty well during the market correction. This should pick up speed once things are a bit more stable.
It has been consolidating for the past 15 days (3 weeks) in a very tight rage (1.61%) and it broke out yesterday.
If you missed the initial entry you can use the following criteria to enter
For $1000 you can get 43.0 shares at $22.88
A stop loss placed at $21.72 would risk $50.0
A 2:1 target would be at $25.21