Trending Now, Monmouth Real Estate Investment Corp: MNR
Trending Now Installment Number Four: I thought I would share with all some charts that are, for lack of a better description, "Trending Now".
Disclosure - no position in MNR-but looking to go long.
As you can see from the chart above-MNR-(Monmouth Real Estate Investment Corporation)-has established a very strong uptrend.
This stock is only .75% off its 52 week high - and set several new highs last week. The trend is strong, almost as strong as-ADC.
From a non-technical perspective, the dividend yield is 4.83%, so this is a big attraction to institutions.
Let's review Don's TRADE-MAP approach:
TRADE = 1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
.....MAP = 6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance.
When I mention "Don's Top Ten Technicals", I use the elements of the "TRADE-MAP" approach:
1. The Ichimoku Cloud is rising as well as the 89 day moving average . 2. Prices have risen above the cloud. 3. Prices are trading above the thick red Ichimoku Cloud Conversion line.
4. The thick red conversion line is also rising. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud , which is rising and above the cloud. 6. The indicator on the top of the page is RSI / Stochastic , and this is strong. 7. The top middle indicator is vortex and it is strong (green over red). 8. The Top (bar-type) indicator measures the "phase energy" of the stock , and this is STRONG. 9. The green fractal arrows are up (not shown). 10. Look to the far right on the chart, around $13. You will note a yellowish line on top (lips), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are rising, correct? This is where I ask you to use your imagination and envision these three items as the "separated jaws of a feeding alligator". This is a positive indication because the alligator is FEEDING in the uptrend.
A pullback is likely. If you carefully examine the second five impulse wave pattern, it forms a "W", which is a bearish butterfly pattern, and suggests a pullback. A good entry point is the thick black line above the alligator teeth. This is the Ki jun-Sen baseline of the Ichimoku Cloud (right around $12.50).
Another negative; the price action is at the top of the trade bands. It is very unlikely it can remain above this level for an extended period of time.
Always remember, "Trees don't grow to the sky".
I would like to close with three quotes from Andy Rooney:
1. “The average dog is a nicer person than the average person.”
2. “If you smile when no one else is around, you really mean it.”
3. “Computers make it easier to do a lot of things, but most of the things they make it easier to do don't need to be done.”
I hope this has been entertaining and informative. I hope all of your trades go well. Don.
Disclosure - no position in MNR-but looking to go long.
As you can see from the chart above-MNR-(Monmouth Real Estate Investment Corporation)-has established a very strong uptrend.
This stock is only .75% off its 52 week high - and set several new highs last week. The trend is strong, almost as strong as-ADC.
From a non-technical perspective, the dividend yield is 4.83%, so this is a big attraction to institutions.
Let's review Don's TRADE-MAP approach:
TRADE = 1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
.....MAP = 6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance.
When I mention "Don's Top Ten Technicals", I use the elements of the "TRADE-MAP" approach:
1. The Ichimoku Cloud is rising as well as the 89 day moving average . 2. Prices have risen above the cloud. 3. Prices are trading above the thick red Ichimoku Cloud Conversion line.
4. The thick red conversion line is also rising. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud , which is rising and above the cloud. 6. The indicator on the top of the page is RSI / Stochastic , and this is strong. 7. The top middle indicator is vortex and it is strong (green over red). 8. The Top (bar-type) indicator measures the "phase energy" of the stock , and this is STRONG. 9. The green fractal arrows are up (not shown). 10. Look to the far right on the chart, around $13. You will note a yellowish line on top (lips), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are rising, correct? This is where I ask you to use your imagination and envision these three items as the "separated jaws of a feeding alligator". This is a positive indication because the alligator is FEEDING in the uptrend.
A pullback is likely. If you carefully examine the second five impulse wave pattern, it forms a "W", which is a bearish butterfly pattern, and suggests a pullback. A good entry point is the thick black line above the alligator teeth. This is the Ki jun-Sen baseline of the Ichimoku Cloud (right around $12.50).
Another negative; the price action is at the top of the trade bands. It is very unlikely it can remain above this level for an extended period of time.
Always remember, "Trees don't grow to the sky".
I would like to close with three quotes from Andy Rooney:
1. “The average dog is a nicer person than the average person.”
2. “If you smile when no one else is around, you really mean it.”
3. “Computers make it easier to do a lot of things, but most of the things they make it easier to do don't need to be done.”
I hope this has been entertaining and informative. I hope all of your trades go well. Don.