Chart of the Day: This Bullpen Stock's Action Is a Little Too Impressive
We await a better entry point for this REIT.
You've reached your free article limit
You've read 0 of 1 free Pro articles.
A steady, bullish move for Pro Portfolio Bullpen name Welltower WELL still has our interest.
But the Ohio-based real estate investment trust's trend upward isn't letting up, and that is frustrating for us. We would like to bring this name up to "big show" and add it but Welltower is simply not giving us a chance to get in. That is what happens with the best trends — they rarely give you that chance.
The technicals are strong, but the indicators have slowed down a bit.
Notice the Moving Average Convergence Divergence indicator in the second pane is "technically" on a sell signal, but the stock is simply going sideways. So, this is going to happen (it is all based on mathematics).
In the third pane, we can see that Stochastics are also down. But money flow in the bottom pane remains robust. If we could get a pullback to support, say the $116-$120 area, we could consider pulling the trigger.
Welltower is in our Bullpen on watch.
At the time of publication, the Pro Portfolio had no position in any security mentioned.
