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Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
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Important levels to watch are support of $18.51 and Gap fill resistance area of $20.63.
If it dips to support, it will present a dip buying opportunity.
First sell target for me is $20.63.
Long term Hold. Looking forward to Pre-covid Highs.
REI.UN
Trade + Long Hold idea
2 Month Trade Idea.
Buy zone between $17.80 and $18
Once stock clears overhead resistance at $18.55,
that would be confirmation of breakout.
SInce we are in a downtrend, i would expect the gap below will get filled 14-14.20 May trade a little when it is testing the support and if the given condition is oversold.
While Spy at ATH and Rei still range bounce and 40% from the pre-covid level is concerning. From here we could bounce back up to UBB given the market is stable. But if the Market consolidates from here, we could test the 14.60ish support lvl.
Strong support at $16.45.
After passing $16.45 support with a 3-4 day confirmation A long position should be taken.
Next lowest support is at $15.00, and the average true range (ATR, 14) shows a $0.50 variation in price.
Initial Stop Loss at $14.50, taking into account the lower support and the ATR value.
Summary of Setup:
Entry: $16.45
Stop Loss:...
WE all know reit is slow mover - with Toronto moving to stage 3 it will only benefit reit. Today maybe backtesting the trendline. Yesterday vol and sign is encouraging.
It has been a downtrend but seems like it finds the floor and let's see if it will bounce back up to close UBB with juicy dividend coming up.
Currently trading at 2008 crises lvl could be a good opporunity to scoop up some for long run with juicy 10% annually dividend.
Riocan's share price has taken a huge hit due to COVID-19, but their business is still mostly intact. Many of its tenants are essential businesses (ex. Canadian Tire, LCBO, TD, etc.) which means Ricocan still has a reliable income. Although only about half of the tenants have paid their rent, with Phase 2 starting more of the tenants will be able to pay their rent...
