Bottom for IIPR?
Updated
3 new leaseback deals announced just before Christmas. Dividend coming up in just 4 days, expected to increase again. IIPR blew upward, riding the MJ bubble, and deflated when that bubble burst. The current valuation is quite high, comparing fundamentals to other REITs.
It is currently attempting to break its 50 day line, and we should expect a test of the current rally attempts. With pivot points posting higher highs and higher lowes, perhaps going long at the current levels doesn't seem like a bad idea. Even if the bottom isn't in, it doesn't seem reasonable to me, that this would drop below $70, perhaps $65. Providing that the Bull Market continues...
What are your thoughts?
It is currently attempting to break its 50 day line, and we should expect a test of the current rally attempts. With pivot points posting higher highs and higher lowes, perhaps going long at the current levels doesn't seem like a bad idea. Even if the bottom isn't in, it doesn't seem reasonable to me, that this would drop below $70, perhaps $65. Providing that the Bull Market continues...
What are your thoughts?
Comment
I really like how this looks... Indicators, fundamentals, long term prospect, etc.Trade active
Bought $76,50 Stop Loss $73.50
Trade closed: stop reached
🅱🄰🆁🅺🆆🄾🆁🆃🅷
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.