Working on its neckline….REIT’s

Posted by Chris Kimble on 09/16/2010 at 2:05 pm; This entry is filed under real estate.

A potential inverse “Head & Shoulders” neckline is being tested right now by the REIT ETF (IYR) in the chart below.

CLICK ON CHART TO ENLARGE

If long IYR, add a protective stop below current prices.  For those that don’t own IYR, if it breaks above the neckline, go after it, using the neckline as a stop.

I know the news about Real Estate is anything but favorable.  Just sharing a pattern that has sizeable potential.

Be Sociable, Share!

6 Comments

  1. stemphos September 16th, 2010 at 5:55 pm

    Hi Chris,

    Does the same analysis apply to VNQ as well?

    Aaron

  2. Chris Kimble September 16th, 2010 at 7:13 pm

    Hey Aaron,
    It does! Patterns look almost the same…
    Chris

  3. Captain John September 16th, 2010 at 10:09 pm

    The necklne should be left in the rear view mirror. Maybe without a kiss goodbye

    Best regards,

    Captain John

  4. stemski September 16th, 2010 at 10:22 pm

    Thanks Chris for your analysis on VNQ. I bought this ETF in July and I was wondering if I should take profits. I guess I will hold out a little longer but put a stop loss on at these levels.

    I also wanted to know something about EPU and VNM. I asked about them in your ECH blog. Do you they look to be up against resistance?
    I bought EPU in the middle of May and VNM I bought at the end of August.
    As always, thanks for your insight. Note: I sure need to learn about resistance.
    Thanks,
    Aaron

  5. Chris Kimble September 17th, 2010 at 4:50 am

    Aaron,
    I would hold onto the VNQ for sure, with the stop. Neckline goes to the upside, non-owner would want to buy!
    EPU and VNM look good!

    Harvesting!!!
    Chris

  6. Chris Kimble September 17th, 2010 at 4:51 am

    Captain John,
    You sound like a good owner of these ETF! Great job and good luck!!!