REAX breaking outREAX is a real estage brokerage company that has been in this bullish decending wedge for about a year now. It just broke out yesterday and had a push higher today, confirming the breakout. A measured move of the bull flag puts price targets on this stock around $10 a share, roughly double its current share price. It also sports a Zack's #1 buy rank and is expected to report positive earnings for the first time in company history, when it reports Q2 earnings on August 6th. If this indeed happens, the stock will push much higher, get in early before that happens.
REAX trade ideas
It's pretty clear that REAX is to taken seriouslyWant to put REAX out here. I don't necessarily know what to expect here TA wise. But the company and financials are very interesting and good. So I think it's worth to keep an eye on this one. I don't own the stock yet because I don't know what to think of the chart currently. But I do want to own the stock if I start to like the setup/PA.
Q3 2024
- **Revenue Growth:** 74% increase to $372.5 million
- **Gross Profit Growth:** 71% increase to $32.1 million
- **User (Agent) Growth:** 79% increase to 21,770 agents
Q4 2024
- **Revenue Growth:** 93% increase to $350.6 million
- **Gross Profit Growth:** Not explicitly stated for Q4, but full-year gross profit increased significantly
- **User (Agent) Growth:** 77% increase to 24,140 agents by the end of Q4
$REAX: The Moment of Truth - Ready for a Skyrocket or a Crash?NASDAQ:REAX : The Moment of Truth - Ready for a Skyrocket or a Crash? ๐๐
๐จ A make or break moment here, friends! ๐จ
Good:
At strong cup-and-handle retest area (Strong Support Zone) ๐ช *Measured Move for cup-and-handle breakout hasn't been realized yet
Falling wedge pattern into support ๐
Bad:
Off the volume shelf and in the volume gap โ ๏ธ
Red H5 Indicator ๐
Short Williams CB formed and thriving
๐ Going to $8.20 or sub $4 ๐
Not financial advice.
The Real Brokerage about to drop (really). REAXIndeed. Overbought hump nearly complete and we are about to descend back into normal range bough territory. The impulse is probably over and we are due for lower lows. Fibs tell us we have not descended yet all that low, thus plenty of time and space to drop more. Potentially.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!