Real Estate and Technology – Watch List Addition

The real estate market and asset managers, in particular, benefit from the efficiencies software yields. If you work in this industry you know what I mean. Large corporate entities have vast portfolios of properties which benefit from the coordination that software and technology bring to bear.

Real Page (RP) – IBD50 

RealPage, Inc. provides software and data analytics for the real estate industry in the United States. It offers OneSite, a property management solution for multi-family, affordable property, rural housing, military housing, senior and student living, and commercial property types; and Propertyware for accounting, maintenance and work order management, marketing, spend management, portal services, and screening and payment solutions. The company also provides Kigo, a vacation rental property management system; spend management solutions for property owners and managers

Real Page Technical Analysis

Real Page has been on the watch list recently. In late August we observed its weekly chart, which provided a glimpse into the stocks potential as a swing. Note: we already have a swing position.

“Buying the pullback to the 9ema initially, then adding on breakouts gives you the best swing potential.”

Since February 2016 the stock has gained more than 156%. The trend is intact. Earnings are the first day of November.

RP weekly

We have been waiting for a breakout, as this descending wedge developed over the past few weeks. We will add today if the stock continues to push higher with a short-term target of 43.50 (+/-). The measured move from the current pattern is +2.00 (+/-) so an extended target above the recent pivot would be approximately 45.50. The weekly chart supports this thesis.

RP-daily=10-05-2017

MACD crossed early this week and RSI is trending through 50, suggesting higher prices will result from this breakout.

Real Page  60-minute

The 60-minute chart is trending as well, finishing the day on a positive note.

RP-60-min-10-05-2017

We would be remiss to overlook fundamentals. One of the reasons IBD50 stocks perform so well is due to earnings and sales. Investor Business Daily does this for you every day of the week. A subscription is well worth the money.

Note the embedded fundamental data in the above charts and study the earnings. Real Page is doing something right when earnings keep growing by double digits.

Additional IBD50 Stocks on the watch list show potential patterns ready for a breakout. Be sure to review the weekly watch list prior to the opening bell.

Happy Trading,

Vinny

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Vinny Gambini

Trade Fundamentals w/ Technical Analysis - CANSLIM method using high probability setups and Ichimoku Trend Analysis. Architect, Family Man and Father of three.