SGRO Long
This week I will be keeping an eye on the UK based REIT SGRO, their main business is managing industrial storage units, the stock is within 3% of its all time highs and is consolidating nicely around the 662 level. The consolidation has been a bit all over the place for my liking and that skews the entry a little bit as I like to clear all previous highs with my entry to avoid running into previous resistance but the spike on the first of march would make the entry too high from the level. that being side the price is bunching up nicely under the level and on the weekly scale an inside weekly doji gives me the feeling that we could see some action within next weeks trading. My improvised entry would be 663.2 as this clears the attempt on the 30th of January but if you want a clear margin of safety in the trade then 6666.3 would be the stop entry. This stock is a relatively low beta at 0.76 (yahoo finance) which I think could help it out given the weakness lately in the FTSE 100, I hope you liked this idea, if you did be sure to comment what you like if not then that's welcome too.
Happy trading.
Joe
Happy trading.
Joe
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