SRU.UN set to churn for several weeks
Updated
The weekly chart had a notable bearish trend from March 2022 to June 2022.
This was retraced by 50% (mid-August), and then the downtrend continued.
We have broken below June's low (the year-to-date low).
I believe sellers are exhausted, but there are not many catalysts for a rally here either.
I expect
SRU.UN to be mired between 26 and 27 for several weeks.
I am likely to accumulate someSRU.UN if the price dips below 26.
This was retraced by 50% (mid-August), and then the downtrend continued.
We have broken below June's low (the year-to-date low).
I believe sellers are exhausted, but there are not many catalysts for a rally here either.
I expect
SRU.UN to be mired between 26 and 27 for several weeks.I am likely to accumulate some
SRU.UN if the price dips below 26.Trade active
I FOMO'd into this stock at 27.72I bought shares, long.
Trade closed manually
I panic solid these stocks at a loss (27.19) because I'm getting increasingly bearish on the entire Canadian Real Estate sector.
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