Earlier in the week, I noticed some of the REIT's were starting to get some bids. On Friday, the REIT's and Utilities got a bid. Here are three that are working at getting back above the 200 DMA.
Here is RioCan the mall property developer.
Here is Crombie.
It might warrant some focus in this area if the market starts to roll over. The fact that the sector seems to be moving back above the 200 DMA encourages me to think this is not a one trick pony.
Below is the REIT ETF.
Good trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
Learn More
