REG is in the hot real estate sector. It looks to me like it's getting ready for another move higher. I have made what I feel are important notes on the chart. Regency reports earnings on August 5th. I'll be looking to go long with a half position size if it continues to move out of this flag. If it can break above the area of resistance outlined above prior to earnings I may add. All TBD. Ideas, not investing / trading advice.
Last earnings as reported on earningswhispers.com:
Regency Realty Raises Guidance
Regency Centers (REG) reported 1st Quarter March 2021 earnings of $0.90 per share on revenue of $274.7 million. The consensus earnings estimate was $0.75 per share on revenue of $252.8 million. Revenue fell 3.2% compared to the same quarter a year ago.
The company said it expects 2021 funds from operations of $3.33 to $3.43 per share. The company's previous guidance was FFO of $2.96 to $3.14 per share and the current consensus FFO estimate is $3.11 per share for the year ending December 31, 2021.
Regency Centers Corp is a real estate investment trust and is a grocery-anchored shopping center company. The Company leases space in its shopping centers to grocery stores, retail anchors, restaurants, side-shop retailers, and service providers.
Trade active
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Opened 1/2 size position @ $66.00 Stop just below today's low.
Trade closed manually
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After 3 down days and a gap down this morning, I closed this for a small loss.