Tejon Ranch, a large swath of land just south of Bakersfield, CA has big plans for developing properties along the I-5 corridor. It is a prime location between LA and Bakersfield.
The rate at which CA is putting up housing and expanding the American Suburb is astonishing and there is no reason Tejon Ranch cannot gobble up some of that revenue.
The chart shows a potential cup with handle pattern, but we will have to wait to see if the handle breaks through the rim of the cup. Even if the cup pattern fails this could be a long-term investment opportunity thanks to the location of Tejon Ranch.
Cheers
EDIT: the image in the chart does not appear to showing up. It is a map of Tejon Ranch as produced by the company itself.
The rate at which CA is putting up housing and expanding the American Suburb is astonishing and there is no reason Tejon Ranch cannot gobble up some of that revenue.
The chart shows a potential cup with handle pattern, but we will have to wait to see if the handle breaks through the rim of the cup. Even if the cup pattern fails this could be a long-term investment opportunity thanks to the location of Tejon Ranch.
Cheers
EDIT: the image in the chart does not appear to showing up. It is a map of Tejon Ranch as produced by the company itself.
Trade attivo
The handle of the cup broke through and we saw a nice $1 (5% or 6 %)jump. I have not looked at the updated chart data so I cannot offer any opinions on future action. I hope to revisit this company when I have more time.
Cheers
Trade chiuso: obiettivo raggiunto
If you zoom out of this chart there is a long term price bottom that has been rising over the years. It looks like we may be entering the profit taking era of Tejon Ranch, and I will look to see if this approaches the channel bottom again (~$16). If so, it may be time to reassess and hope for a pop upwards.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.