DLN (UK) - new lows aheadDerwent London is tracing minute wave 3 of primary wave 3 down. In this scenario prices will soon reach levels below 2,400. If prices crosses up 3,674 this scenario should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
DLN trade ideas
DLN (UK) - corrective pattern down under wayDLN(UK) has finished primary wave A up, as the critical mark in the previous shown analysis was crossed. It is now tracing the first waves of a intermediate wave A down. After it is complete in 5 waves, there should be a small correction up and prices should fall again in order to cojplete primary wave B down. This scenario will be void if prices crosses up 3666. FOLLOW SKYLINEPRO TO GET UPDATES.
DLN.LSE - (UK) - up to 13% shor-term returnsDerwent London is a REIT owner of prime office buildings in London. It is currently tracing minor wave C up of a possible wave primary wave D of a contracting triangle formation. The most probable target for the end of minor C is at 3,796. Keep tuned. FOLLOW SKYLINEPRO TO GET UPDATES.
DLN.LSE (UK) - critical junctureAfter our previous post indicating the future up move on this UK REIT, the Reit increased 9.8%. At this current juncture there are two possible outcomes. The most probable one is that DLN continues its minor wave 5 up and reach 3800. The alternative scenario is that intermediate C wave and primary D of a contracting triangle has finished and the reit will start is move down into the last wave of the triangle. The latter would happen if DLN crosses down 3344. FOLLOW SKYLINEPRO TO GET UPDATES.
UK Property REITS are on the move - targeting 62% retracementUK Property REITS including Derwent (DLN) have today closed above their 38% retracement levels following brexit.
Having been long DLN from 2400 on 7th July, this provides a bullish signal indicating that resistance has been successfully broken (following a week's worth of testing) and that price should rally towards 3019 in the next few weeks.
Should we see a reversal and two consecutive daily (or one weekly) close below 2717, then this hypothesis would be invalidated and REITS such as Derwent with similar pivots could be considered as shorts (targeting a new swing low having retraced the entire move).
Long at 2750 with a target of 3017 and stop (on close) at 2625, should provide a 2:1 payoff over the next month
(Suggested levels are for illustrative purposes only - you trade at your own risk)
