Get started
HaseebKhan_90

INVH consolidating again before the next move higher?

Long
Invitation Homes Inc. (NYSE:INVH)  
HaseebKhan_90 Updated   
NYSE:INVH   Invitation Homes Inc.
Trend Analysis Chart Patterns consolidationzone consolidationpattern consolidation leg-higher uptrend uptrending buysetup buyzone buyopportunity
1
0
trendanalysis chartpattern consolidationzone consolidationpattern consolidation leg-higher uptrend uptrending buysetup buyzone buyopportunity
Recently INVH had an explosive break out from the $38 resistance. With tonnes of volume following even after the break.

Now that volume is slowing down, it seems like INVH is in consolidation mode again.

Will it give another leg higher? No one can be sure; but judging from the technical performance $39.50 seems to be support.

Thoughts:
* Volume is relatively calming down
* Seems to be consolidating before the next move higher

Trade idea:
* Look for buying opportunities around the $39.40 to $39.50 area
OR
* Wait for a break and close above $40.20
Comment:
This gave two days of opportunities to buy around the $39.40 to $39.50 area before breaking out.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.