Followers | 680 |
Posts | 141234 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Sunday, January 12, 2020 10:21:34 AM
By: Arthur Hill | January 11, 2020
Ten of the eleven sector SPDRs are positive over the last three months. The Real Estate SPDR (XLRE) is the only sector sporting a loss (~.75%), but I am not concerned with relative weakness because the price chart looks bullish overall. Note that XLRE was the leading sector in early September with the biggest year-to-date gain at the time. It basically moved from leader to laggard over the last three months. Can it move back to leader? Let’s check the chart.
Despite relative and absolute weakness since mid October, the price chart shows promise as XLRE bids to end its correction. The advanced some 35% from late December to late October, and hit a new high in the process. This was a massive move and the ETF was entitled to a rest at some point. That point came in the fourth quarter as the stock fell back to the rising 200-day SMA. I still think the long-term trend is up because the PPO(20,200,0) remains positive. This means the 20-day EMA is above the 200-day EMA.
Now let’s look at the pattern at work. A falling wedge formed from October to December. These patterns are typical for corrections after advances. The ETF broke above the wedge line in late December and this breakout is largely holding over the last two weeks. This breakout signals an end to the corrective period and a resumption of the bigger uptrend. As such, a move towards, and above, the October high is expected. I would re-evaluate this bullish thesis on a close below 37.50.
The sector SPDRs are often dominated by a few large-caps and XLRE is not an exception. The two largest stocks, American Tower (AMT) and Crown Castle (CCI) account for over 20% of the ETF. Unsurprisingly, these two cell tower REITs have similar patterns at work. Both hit new highs in early September after big advances, corrected into November and broke out in December. These breakouts bode well for the stocks and for XLRE.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent CCI News
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/13/2024 11:40:12 AM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/13/2024 11:35:11 AM
- Leading Independent Proxy Advisory Firm ISS Recommends Shareholders Vote “FOR” All of Crown Castle’s Director Nominees • GlobeNewswire Inc. • 05/13/2024 11:30:00 AM
- Form DFAN14A - Additional definitive proxy soliciting materials filed by non-management and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/09/2024 08:03:08 PM
- Form DFAN14A - Additional definitive proxy soliciting materials filed by non-management and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/07/2024 09:28:32 PM
- Form DFAN14A - Additional definitive proxy soliciting materials filed by non-management and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/07/2024 08:01:22 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/07/2024 11:33:38 AM
- Crown Castle’s Highly Qualified Board of Directors is Driving Strategic Actions to Enhance Value • GlobeNewswire Inc. • 05/07/2024 11:30:08 AM
- Boots Capital Sends Letter to Shareholders Highlighting Crown Castle Board's Failures to Deliver Promised Changes While Presiding Over a Decade of Underperformance • PR Newswire (US) • 05/07/2024 11:30:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/06/2024 10:00:15 PM
- Form 3/A - Initial statement of beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 05/06/2024 09:56:36 PM
- Form DFAN14A - Additional definitive proxy soliciting materials filed by non-management and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/06/2024 08:52:50 PM
- Form DFAN14A - Additional definitive proxy soliciting materials filed by non-management and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/06/2024 08:51:55 PM
- BOOTS CAPITAL ENCOURAGES SHAREHOLDERS TO IGNORE CROWN CASTLE'S DISTRACTING MISREPRESENTATIONS AND JUDGE DIRECTOR CANDIDATES ON THE MERITS • PR Newswire (US) • 05/06/2024 11:30:00 AM
- Crown Castle Files Investor Presentation Highlighting Clear Strategic Plan and Refreshed, Experienced Board to Drive Shareholder Value Creation • GlobeNewswire Inc. • 05/03/2024 11:30:44 AM
- Board Change at Crown Castle is Needed Urgently: Boots Capital Releases Investor Presentation • PR Newswire (US) • 05/01/2024 09:01:00 PM
- Crown Castle Highlights Actions its Board Has Implemented to Successfully Strengthen Foundation and Position Company for Long-Term Value Creation • GlobeNewswire Inc. • 04/25/2024 08:15:15 PM
- BOOTS CAPITAL HIGHLIGHTS CROWN CASTLE'S SIGNIFICANT DESTRUCTION OF SHAREHOLDER VALUE AND FAILED OPERATIONAL STRATEGY DUE TO INEFFECTIVE LEADERSHIP • PR Newswire (US) • 04/22/2024 08:26:00 PM
- Crown Castle Issues Statement Regarding Ted Miller's Latest Attempt to Disrupt the Company's Momentum • GlobeNewswire Inc. • 04/19/2024 08:15:16 PM
- Crown Castle Reports First Quarter 2024 Results and Maintains Outlook for Full Year 2024 • GlobeNewswire Inc. • 04/17/2024 08:15:30 PM
- Delaware Court of Chancery Grants Expedition and Discovery in Hearing on Company's Last-Minute Expansion of Board • PR Newswire (US) • 04/16/2024 01:29:00 PM
- Ted B. Miller Statement on Crown Castle Appointment of Steven J. Moskowitz as President and Chief Executive Officer • PR Newswire (US) • 04/11/2024 03:16:00 PM
- Crown Castle Highlights Actions Underway to Create Stronger and More Valuable Company • GlobeNewswire Inc. • 04/11/2024 11:23:01 AM
- Crown Castle Appoints Tower Industry Veteran Steven J. Moskowitz as President and Chief Executive Officer • GlobeNewswire Inc. • 04/10/2024 08:15:48 PM
- Crown Castle Announces First Quarter 2024 Earnings Conference Call Details • GlobeNewswire Inc. • 04/03/2024 08:15:00 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM