In some instances in the US, corrections of up to 40% have been recorded.
Now I’m not saying the correction is over, but I am saying nothing goes in a straight line. These markets provide opportunities, all you need do is look.
On the above monthly chart of Acadia Realty Trust (who specialise in retail investment properties) a correction of over 70% has printed. A number of reasons now support a long trade position (not investment), they include:
1) Price action and RSI resistance breakouts. The RSI breakout is particularly noteworthy, 10 years of downtrend. This is a remarkable trend shift.
2) Price action finds support on past resistance. Look left (blue and orange arrows).
3) No share splits.
4) There is a price action target here, but will leave that for another post elsewhere.
Is it possible price action continues to correct? Sure. Is it probable? No.
Ww
Type: Trade Risk: <= 6% Timeframe for long: As per your strategy. Return: Mystery
Trade active
Past resistance confirms support. Just noticed a really interesting development.. will share elsewhere.
Note
The everything bubble is here... take advantage.
Note
Overbought, no new longs at this moment.
Trade closed manually
30-35% gain depending on entry. Time to collect profits.
Trade closed: target reached
An alarm triggered at my 50% target set up some while back.
Take profits.
Allow 3-6 months on ideas. Not investment advice. DYOR
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