REITs looking bearish across the sector. H&S setups galore
First noticed this when I was scouting 
ABR as a potential candidate for puts. I was looking for H&S setups, and liked the look of it. If you look at ABR chart (daily or weekly) I imagine you'll see what I mean. Looks like we're peeling off the 20MA on the 1D to the downside. (Earnings are tomorrow, as a heads up)
But yes, this led me to look at other names in the sector to try and add to my overall conviction. And I found that while some have already made their move to the downside - I also found a bunch of tickers that seem like they're on the cusp of breaking down
Apart fromABR the other names I'm looking at for moves toward downside in the sector are 
O and 
UDR . O especially. In terms of more of a 'macro' view this year I think with increasing interest rates, inflation through the roof etc. I think real estate sector is going to feel some notable pain this year. But of course, theories only mean so much, let's just focus on the chart setups as/when they come. For now, the sector looks bearish
The options I'm personally trading currently are:ABR Mar 18th '22 17.5p (cost basis 2.51) and O Mar 18th '22 67.5p (cost basis 2.05)
Posting this moreso to draw attention to the sector in general, rather than my exact personal plays necessarily. Hence using
SCHH as the image for this 'idea' so people can see the sector overall. Note the rejection/inability to breach the 20MA on the weekly. I think this thing could sag and fold over.
Hope this is helpful to some! And as always, please let me know your thoughts/comments if you have any! I'm always open to new ideas, viewpoints and constructive criticism etc.
ABR as a potential candidate for puts. I was looking for H&S setups, and liked the look of it. If you look at ABR chart (daily or weekly) I imagine you'll see what I mean. Looks like we're peeling off the 20MA on the 1D to the downside. (Earnings are tomorrow, as a heads up)But yes, this led me to look at other names in the sector to try and add to my overall conviction. And I found that while some have already made their move to the downside - I also found a bunch of tickers that seem like they're on the cusp of breaking down
Apart from
ABR the other names I'm looking at for moves toward downside in the sector are O and UDR . O especially. In terms of more of a 'macro' view this year I think with increasing interest rates, inflation through the roof etc. I think real estate sector is going to feel some notable pain this year. But of course, theories only mean so much, let's just focus on the chart setups as/when they come. For now, the sector looks bearish The options I'm personally trading currently are:
ABR Mar 18th '22 17.5p (cost basis 2.51) and O Mar 18th '22 67.5p (cost basis 2.05)Posting this moreso to draw attention to the sector in general, rather than my exact personal plays necessarily. Hence using
SCHH as the image for this 'idea' so people can see the sector overall. Note the rejection/inability to breach the 20MA on the weekly. I think this thing could sag and fold over.Hope this is helpful to some! And as always, please let me know your thoughts/comments if you have any! I'm always open to new ideas, viewpoints and constructive criticism etc.
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.