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Expecting Early Breakout on a Bearish REIT Stock
NYSE:ANH is a stock that has formerly had some wild swings. Yet to come is another one, which I suspect is first down and then up. The general trend is down, and the only analyst has set a 4.00 target with no range. Once that is achieved, however, it will likely sharply rise since there is no reason for it to be that low, given a price/book value is at a low near 0.8 and decreasing.
The RSI has yet to identify a rebound, as it vibrates around the 35 line with no intention of moving.
The RSI has yet to identify a rebound, as it vibrates around the 35 line with no intention of moving.
Nota
Nota
The above is best case scenario, short term. US-based REIT's tend to be doing better than the average indexes, since they are less affected by international trade and the jobs creation. This stock could trade flat in a consolidation pattern or continue to go up to about $4.20 or so on Monday.Nota
I was just about right on the time and amount of the low point, but not the timing of the breakout. Still follows a parabola-like pattern with likely recovery towards the end of the month.Nota
Target 4.14 high.Nota
Tomorrow late morning.Trade fechado manualmente
Sold off at 4.18 today, but enjoyed grabbing them up at 4.06 :)
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