$Z Breaking Out
Updated
I have had my eye on both 
Z & RDFN. They are both breaking out today as well as several real estate stocks (see news below). I do not yet have a position in this, but I like it and will look for an entry on most any pullback. (I’ve noticed that most breakouts seem to retest the breakout area.)
Here is what I see on the chart that makes this a top trading candidate. It is above all shorter-term moving averages. It is breaking out of the resistance area that’s been holding it back since February. It is above the 40 Week MA and above the 18-month AVWAP. The last one means to me that the aggregate of all shareholders by price and volume for the last year and a half are in the money. Which also means few sellers want out save a few profit takers.
I don’t think this is extended at this point but I’m still hopeful to get a better entry in this and RDFN.
Ideas, not investing / trading advice.
With home prices rising more than expected in April and May housing data showing that inventory remains low, stocks in home-flipping companies Opendoor Technologies
OPEN
and Offerpad Solutions
OPAD surged Tuesday afternoon.
They're riding the upswell in real estate stocks overall after three economic reports showed surprising strength in home sales and home prices — the S&P Corelogic Case-Shiller index, the FHFA House Price Index, and May new home sales.
Rising home prices make it easier to turn a profit when flippers buy a house, renovate it, then sell it. Conversely, home-flipping stocks slumped when home prices became more volatile and declined, making it harder to value potential purchases with an eye to sell it at a profit.
Opendoor Technologies stock jumped 14% in Tuesday midday trading, after dropping 48% in the past year. Offerpad climbed 9.3% after a 78% plunge in the past year.
Real estate brokerage stocks also benefited from the day's news — eXp World Holdings
EXPI gained 6.6%, Re/Max Holdings 
RMAX +3.1%; Redfin 
RDFN +7.5%; Anywhere Real Estate 
HOUS, +3.5%.
ZillowZ, which exited the home-flipping business in 2021, rose 4.5%.
Z & RDFN. They are both breaking out today as well as several real estate stocks (see news below). I do not yet have a position in this, but I like it and will look for an entry on most any pullback. (I’ve noticed that most breakouts seem to retest the breakout area.)Here is what I see on the chart that makes this a top trading candidate. It is above all shorter-term moving averages. It is breaking out of the resistance area that’s been holding it back since February. It is above the 40 Week MA and above the 18-month AVWAP. The last one means to me that the aggregate of all shareholders by price and volume for the last year and a half are in the money. Which also means few sellers want out save a few profit takers.
I don’t think this is extended at this point but I’m still hopeful to get a better entry in this and RDFN.
Ideas, not investing / trading advice.
With home prices rising more than expected in April and May housing data showing that inventory remains low, stocks in home-flipping companies Opendoor Technologies
OPENand Offerpad Solutions
OPAD surged Tuesday afternoon.They're riding the upswell in real estate stocks overall after three economic reports showed surprising strength in home sales and home prices — the S&P Corelogic Case-Shiller index, the FHFA House Price Index, and May new home sales.
Rising home prices make it easier to turn a profit when flippers buy a house, renovate it, then sell it. Conversely, home-flipping stocks slumped when home prices became more volatile and declined, making it harder to value potential purchases with an eye to sell it at a profit.
Opendoor Technologies stock jumped 14% in Tuesday midday trading, after dropping 48% in the past year. Offerpad climbed 9.3% after a 78% plunge in the past year.
Real estate brokerage stocks also benefited from the day's news — eXp World Holdings
EXPI gained 6.6%, Re/Max Holdings RMAX +3.1%; Redfin RDFN +7.5%; Anywhere Real Estate HOUS, +3.5%.Zillow
Z, which exited the home-flipping business in 2021, rose 4.5%.Trade active
Z meet my pullback criteria and I have opened a 1/4 sized position @ 49.40. My stop is just below today's low so great risk reward here. For those familiar with Gil Morales' work, he uses what he calls a 620 chart on a 5 minute timeframe to time entries. That is what I used today for a low RR trade. Let's see what happens.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
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