Is a Real Estate Investment Trusts REIT Rally Underway?
With most Real Estate Investment Trusts REIT turning higher, we will consider adding a few names to our watch list. In all cases, MACD is crossing, confirming bulls are in control, while money flow remains consistently bullish. In addition, many of these stocks ar signaling breakouts, as we can see with office property specialist OFC.
Corporate Office Properties Trust (OFC) REIT
OFC is on the watch list for the week. Note the 50/200d bull cross that was mentioned in the weekend video newsletter. The company is trading post-EPS. Short-term targets are listed in the current watchlist.
IYR – Real Estate REIT
The rally that started in February just took a breather, testing the 50d on Monday. The long-legged doji confirmed buyers were present at this key support. Money flow is persistently bullish. Momentum indicators show bears are losing control, so we are watching for a bullish cross.
Real Estate REIT Performance Wednesday
REITs that are confirming the sector performance populate the list with persistent money flow. Watch these names for follow through today.
Host Hotels & Resorts (HST) is a name we’ve traded in the past. Since money flow indicates buyers are present, and price cycles dictate momentum via MACD, we’ll watch all three and confirm with a MACD bull cross in the next few days.
Look for similar results in the REIT listing above.
Futures are moving off early session lows.
Remember, Mexico’s newly elected President will be at the White House to meet President Trump. This should be a market moving event on NAFTA news and outlook going forward. We also expect a announcement to have Canadian PM Trudeau here soon.
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