MoneyPatterns
Long

IIPR – Cannabis REIT Bullish Breakout

NYSE:IIPR   INNOVATIVE INDUSTRIAL PROPERTES INC
Trade Entry
Feb. 21 Expiry - Put Credit Spread – 80/85 strikes – Trying for $3.00 credit. Lowest acceptable $2.80. Max risk $218. Max Gain $300. 62% POP

I will update if I get filled on this order. Better than 1:1 risk/reward and better than 60% probability of profit. Meets minimum requirement.
Personal opinion - this is great REIT. Previous high over $140 is almost a 2x from here. Good opportunity.

Chart Details
Bullish wedge price breakout.
Bullish EMA cross on 1/6 and Bullish 10WeekMA price cross on 1/9.
Next price targets in pink ($87 and $97). These are exits.

About Me
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I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020.
Disclosure - I am long BTCUSD , GBTC . Short term GDX Bullish , SPXS Bullish , MCD Bullish

Comments

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