The PEAD projected a Bullish outlook for $SBAC after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 66.67%.
I like the pattern that is busy unfoldiing.
A price action above 337.50 supports a bullish trend direction. Crossing below this level will negate the bullish stance.
Further trend support above 333.00.
Consolidation between 342.00 to 351.00. Crossing above 251.00 might target 364.50.
Crossing below 342.00 will be the first sign of weakness.
The MADC bullish...
The PEAD projected a Bullish outlook for $SBAC after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 71.43%.
As bonds continue to move higher and interest rates lower, $XLRE and $REITS in general have been showing strength. $SBAC Has been on my radar for awhile and the breakout has finally happened. I believe that a position over prior resistance offers a good risk/reward ratio here and I like the stock long to the 0.786 Fib extension which happens to be just about the...
The global resistance maximum is broken. The company pays dividends and carries out buybacks. In the long term, the price may rise to the area of the target level of 420.
Potential breakout? The drop from segment BC seems to be greater in magnitude than segment 0A. I'll wait for a fractal on the 5 min before seeking entry for calls. Some of you want me to start stating what the pattern is called so here's to that. The pattern on SBAC is called a Running flat Elliott correction wave. Running flats always have two trend lines...
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Short 100 $CCI
Long 53 $SBAC
Mean Reversion Time: 8 Trading Days
Selling appears that it may be getting exhausted. Large institutional presence here, and no doubt the projected earnings growth is why.
This is a potential long back into resistance if we see a nice pullback.
