PCL is one of the weakest stock in the Real Estate industry. REITS have been underperforming the S&P.
This is a good candidate to short in a strong downtrend (see daily chart). Ideally, a short should be opened on a retracement to the 20 MA in the day chart.
Macro:
The Short term spike in yields triggered a large selloff in REITS. As mentioned in the 10 Year yield post, The yields are likely to rebound until at least end of year which could put downward pressure on REITS.
Technicals:
USDH is underperforming the S&P which is setting up for a possible short across the board over the next weeks.
The bearish divergence...
