Weekly chart for REG
A large symmetrical triangle is evident
Within this triangle a channel can be drawn around an inverted H&S pattern
This H&S structure is poised to form its right shoulder, which is a bullish part of the pattern
This formation will ultimately lead to the breakout of the larger symmetrical triangle aswell
Bullish price action plotted with bars...
REG is currently trying to find support along a man trendline (solid white)
An inverse H&S formation has been created along this trend line and the right shoulder is looking to form along this trend line also
This right shoulder is a good recovery place and a support
The PEAD projected a Neutral outlook for $REG after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 77.78%.
$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...
REG is a REIT with a solid ~6% dividend, that is approaching long-term support at $35.16. This is the same support level used during the Great Recession to springboard into their previous bull run. It we see a bounce off of support, this buy and hold stock will offer us a great risk/reward opportunity.
NOTE: Not trading advice. Please research your trades accordingly.
