REVIEW $IRTBearish
Fundamental
- Funds distributing
- Macro environment high inflation rate - Inflation is not favorable for REITs
TA
- Bearish momentum divergence
- Price broke down 2 years upward trend
- Price broke down neck line
IRT trade ideas
IRT Long• IRT
• Why enter? Finding support off 20ema. Still showing short term strength with recent close over 5ema. Pullback continuation.
• Entry: 14.41
• Stop loss: 14.06 (-2.39%)
• Profit target 1: 15.90 (10.37%)
Potential 5th Wave SwingTrading Opportunity Long for IRTUsing our Elliott Wave Indicator Suite for the TradingView Platform we have identified a potential Long 5th Wave Swing Trading Opportunity on IRT . The 5th wave move in an elliottwave sequence is the highest probability move.
The wave 4 pull back has found support in the green zone of our probability pullback zones, which represents an 85% probability that our automated 5th wave target zone, in blue on the chart, will be hit.
We see yellow dots formed in the overbought zone on our special False Breakout Stochastic indicator, which signals strong Bullish momentum. When, during a wave 4 pullback, the stochastic pulls back against these false break out dots and crosses in the oversold zone, there is a high probability the stocks price action will resume the overall bullish trend .
We also measure the wave 4 behaviour with our Elliottwave oscillator, which has pulled back within our pre-determined zone.
So overall we have identified, using our Elliott Wave Indicator suite for TradingView, a high probability long swing trading opportunity on IRT, Daily Timeframe, with the following entry strategy:
Long entry through $15.03
Stop Loss $14.20
Target $16.40
Giving a Risk to Reward over 1:1.6
Learn more about our Tradingview indicator suites by watching the video tours >>HERE<<
IRT - Testing Darvas Box TheoryMoney appears to be flowing into building stocks and shipping stocks.
IRT longlower volume lower price and not usually a part of our strategy but this weekly level around 10.50- 10.75.
