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Saturday, March 20, 2021 9:49:37 AM
By: Greg Schnell | March 19, 2021
Why so many real estate set ups are occurring right now is hard to know, but the setups are nice. All these stocks were in strong uptrends before COVID hit. Can they resume the big picture?
The first one is Crown Castle (CCI). Crown's yield is only 2.2%, which I thought might be the first reason people are looking around. That doesn't seem that motivating. When I look historically, the stock was strong through 2019, but paused for most of 2020. Perhaps the investors like the opportunity to get back on this name with a clean uptrend as the economy reopens. The stock is breaking the downtrend to resume the move up. The SCTR has been under 30, but it was a much stronger stock before COVID. Maybe it can turn the corner?
Good trading,
Greg Schnell, CMT, MFTA
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