Infrastructures, utilities and energy are very sensitive to interest rates as we saw in 2023.
But this long term trend remains to be broken. The monthly RSI is at the 30% level now, the lowest level it has ever been. Price action started to bounce from there, creating a hidden bullish divergence (price making higher low while RSI making lower low).
This stock is now paying around a 6% dividend, and Brookfield has a long history of being a long term winner. I like this setup as an investing/very long term swing trade idea.
Comentário
⋅
Up 8% today, hit our head on the 1h00 EMA ribbon. I could see a pullback to about 23$-23.25$ as to confirm this macro fib level as support before taking off.
Comentário
⋅
This thing is just sky rocketting and rightfully so, it was getting incredibly oversold and undervalued
Comentário
⋅
I could see this scenario playing out in the next few weeks, some kind of inverse H&S breakout