Brookfield infrastructure bottom in?
Updated
Infrastructures, utilities and energy are very sensitive to interest rates as we saw in 2023.
But this long term trend remains to be broken. The monthly RSI is at the 30% level now, the lowest level it has ever been. Price action started to bounce from there, creating a hidden bullish divergence (price making higher low while RSI making lower low).
This stock is now paying around a 6% dividend, and Brookfield has a long history of being a long term winner. I like this setup as an investing/very long term swing trade idea.
But this long term trend remains to be broken. The monthly RSI is at the 30% level now, the lowest level it has ever been. Price action started to bounce from there, creating a hidden bullish divergence (price making higher low while RSI making lower low).
This stock is now paying around a 6% dividend, and Brookfield has a long history of being a long term winner. I like this setup as an investing/very long term swing trade idea.
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Up 8% today, hit our head on the 1h00 EMA ribbon. I could see a pullback to about 23$-23.25$ as to confirm this macro fib level as support before taking off.
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This thing is just sky rocketting and rightfully so, it was getting incredibly oversold and undervaluedNote
I could see this scenario playing out in the next few weeks, some kind of inverse H&S breakout
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Interesting how this has played out. Brookfield has a lot of upside potential still if it breaks out of this channel once again.
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