dpuleo19

REITs could lead the next upswing, $PSB is showing it

Long
NYSE:PSB   PS Business Parks, Inc. (MD)
After NYSE:PSB topped in mid-April has been forming a long base. I see a "low cheat" with a breakout above $168.88 with a good follow through above $165 resistance zone . Today is making that second breakout and could be a good day to get in the stock. I'll be waiting for volume confirmation.

NYSE:PSB has a IBD relative strength rating of 77. Is not the minimum 80 that I like to see, but still the chart is looking very good. Another stock in the same industry that is going for the breakout is NYSE:WY . Is currently trading at $38 and the pivot buy zone is at $42.

The only thing that I don't like is that AMEX:PW , which has the #1 rank in the industry by IBD, already made the breakout from its base and last week made a hard throwback. If this industry leader doesn't holds above $49 could be a bad sign for the rest.


Trade active
Trade active: As there has been more down days that up days, I change my stop to breakeven.

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