I sought out a REIT that was defensive last week, and CORR stood out as a blend between a REIT and an energy sector play. It's since paid off handsomely for me, and I want to share it with you. It's a small cap, which is not commonly something I seek out for individual stock invdesting due to liquidity reasons, but I couldn't ignore CORR when it showed up on one of my momentum screeners.
Volume spiked dramatically in the week following their earnings call with nearly a 20% surprise profitability but it wasn't until the shock of the latest US/China trade war drama wore off (only took a few days instead of a few weeks like back in April) that the price started to climb. It has climbed dramatically and is indicating a strong uptrend forming after months of languishing just below the rest of the market. All technical indicators are flashing buy, and it's continuing to rise whether we're having a good or bad overall day in the market.
Expect a minor shake out to occur in the next few weeks as some profit taking may occur soon, but the recent breakout volume trends look like institutional buying to me and those guys don't get shaken out so easily.
Volume spiked dramatically in the week following their earnings call with nearly a 20% surprise profitability but it wasn't until the shock of the latest US/China trade war drama wore off (only took a few days instead of a few weeks like back in April) that the price started to climb. It has climbed dramatically and is indicating a strong uptrend forming after months of languishing just below the rest of the market. All technical indicators are flashing buy, and it's continuing to rise whether we're having a good or bad overall day in the market.
Expect a minor shake out to occur in the next few weeks as some profit taking may occur soon, but the recent breakout volume trends look like institutional buying to me and those guys don't get shaken out so easily.