In the wake of strong real estate data, we can expect a turn around for its respective ETF's such as the Vanguard ETF, VNQ. In addition to the fundamentals, there is a lot of reason to believe this might be a good long position.
We've finally started to see some headway breaking the level at around $77, which also corresponds to a strong fibonacci level. There is a lot of resistance from below from the Ichimoku cloud. Moreover, the MACD line and Signal line appear to be headed for convergence, indicating a turn around in the general bearish behavior. For profit targets consider the fibonacci levels or the levels set by the gaps between 11/05, 11/06, and 11/07.
We've finally started to see some headway breaking the level at around $77, which also corresponds to a strong fibonacci level. There is a lot of resistance from below from the Ichimoku cloud. Moreover, the MACD line and Signal line appear to be headed for convergence, indicating a turn around in the general bearish behavior. For profit targets consider the fibonacci levels or the levels set by the gaps between 11/05, 11/06, and 11/07.
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Join my discord at discord.io/quantguy
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.