Good breakout here over DTLR and renewed RS in market and sector. This is a choppy stock that doesn't generally run away so will wait for the PB but consistently closing over the 9.
An inverted H&S pattern
Right shoulder is current being experienced, which is a bullish phase as shown with the bars pattern tool in green.
Labelled left shoulder head and right shoulder.
* Good earnings
* Long term, it's been going sideways but a new up trend has started
* Recently broke a multi year resistance of $21.93 dating back to 2016
* Used multi year broken resistance as support for the past 5 months
* Breaking out of the 5 month consolidation with higher than average volume
* High relative strength in the Real Estate sector
Trade Idea:...
BRX had massive insider/institutional selling recently. Technicall it looks weak, money-flow turned to negative & we have EMA 9 & 5 crossover. We think it will decline to 20.50 area
For trade we are looking for 27.50 or lower which we had already.
"You can check our detailed analysis on BRX in the trading room/ Executive summery link here-
www.youtube.com
Time...
With the US indices in a mini-range right now there aren't many breakout opportunities.
BRX is a good trending stock but has only been trading for just over a year - so not one I would look to trade at the moment. However, despite some erratic volume (on relatively small bars), it continues to push up in a fairly uniform fashion. The pullbacks are generally not...
Friday brought a bullish price action close with some very sizeable volume for BRX. Momentum is creeping higher, and it looks like this could lead to a nice bounce away from the 50 ema which also happens to have landed at a noticeable support level as well. Not shown, the mac-d histogram has also made higher lows for a few days now indicating that bulls are likely...
