This trade will need to rely on SPY to get it's act together. Considering the way it's been able to hold and grow YTD when SPY finds it's support eventually and lifts again this would be a long swing for maybe 1 to 3 weeks. If it doesn't react to positive SPY changes don't take the trade because it lost it's relative strength.
I posted about this one earlier about an entry with a pocket pivot but now it's giving another entry signal with a breakout.
If you didn't get in before, this may still be a great time to enter.
* Good earnings
* Very strong up trend
* High relative strength in the Real Estate sector
* Trading higher than average volume
* Breaking out of a tight consolidation of 2.77%
* Good earnings
* Strong up trend
* High relative strength in the Real Estate sector
* Pays out dividends generously
* Breaking out of a very tight 2.64% range with 104.98% higher than average volume.
* This can also be considered a Pocket Pivot breakout
Trade Idea:
* Now is the perfect time to get in as the price is still very close to the broken range...
The main idea behind this is to use all probabilities we can to get a likely win:
- The uptrend is apparent
- There has been a pullback
- The pullback is slowing and at the trendline
We then aim for a decent risk to reward of 3, or above 2 if 3 seems over ambitious. The trade is set-and-forget, so we place the trade with a profit target ad then don't touch it...
LXP blew away analyst expectations on its last earnings report, beating by 200%. It got a nice pop after earnings, then collapsed when it announced a $10 million share offering. It started to recover after it announced what it was doing with the money raised from investors: purchasing new properties to accelerate its growth. If LXP is as good a steward of the new...
Saw a seeking alpha article touting LXP and had a look because it's an attractive, covered dividend.
However, it has declining assets that it's taken some nasty write downs on in the past, so auction is reevaluating LXP lower.
But how low?
Last aggressive initiation large buyers stepped in near $7.
I wouldn't touch it until it's near the Pink buy levels near $7...
LXP forms “Bottom Triangle - Bottom Wedge” pattern
This stock has formed a pattern called Bottom Triangle - Bottom Wedge, providing a target price for the intermediate-term in the range of 11.20 to 11.70.
The faster moving average recently crossed above the slower moving average, signaling a new uptrend has been established.
