I have had my eye on both 
Z & $RDFN. They are both breaking out today as well as several real estate stocks (see news below). I do not yet have a position in this, but I like it and will look for an entry on most any pullback. (I’ve noticed that most breakouts seem to retest the breakout area.)
Here is what I see on the chart that makes this a top trading candidate. It is above all shorter-term moving averages. It is breaking out of the resistance area that’s been holding it back since February. It is above the 40 Week MA and above the 18-month AVWAP. The last one means to me that the aggregate of all shareholders by price and volume for the last year and a half are in the money. Which also means few sellers want out save a few profit takers.
I don’t think this is extended at this point but I’m still hopeful to get a better entry in this and $RDFN.
Ideas, not investing / trading advice.
With home prices rising more than expected in April and May housing data showing that inventory remains low, stocks in home-flipping companies Opendoor Technologies
OPEN
and Offerpad Solutions $NYSE:OPAD surged Tuesday afternoon.
They're riding the upswell in real estate stocks overall after three economic reports showed surprising strength in home sales and home prices — the S&P Corelogic Case-Shiller index, the FHFA House Price Index, and May new home sales.
Rising home prices make it easier to turn a profit when flippers buy a house, renovate it, then sell it. Conversely, home-flipping stocks slumped when home prices became more volatile and declined, making it harder to value potential purchases with an eye to sell it at a profit.
Opendoor Technologies stock jumped 14% in Tuesday midday trading, after dropping 48% in the past year. Offerpad climbed 9.3% after a 78% plunge in the past year.
Real estate brokerage stocks also benefited from the day's news — eXp World Holdings
EXPI gained 6.6%, Re/Max Holdings $NYSE:RMAX +3.1%; Redfin $NASDAQ:RDFN +7.5%; Anywhere Real Estate $NYSE:HOUS, +3.5%.
ZillowZ, which exited the home-flipping business in 2021, rose 4.5%.
Z & $RDFN. They are both breaking out today as well as several real estate stocks (see news below). I do not yet have a position in this, but I like it and will look for an entry on most any pullback. (I’ve noticed that most breakouts seem to retest the breakout area.)Here is what I see on the chart that makes this a top trading candidate. It is above all shorter-term moving averages. It is breaking out of the resistance area that’s been holding it back since February. It is above the 40 Week MA and above the 18-month AVWAP. The last one means to me that the aggregate of all shareholders by price and volume for the last year and a half are in the money. Which also means few sellers want out save a few profit takers.
I don’t think this is extended at this point but I’m still hopeful to get a better entry in this and $RDFN.
Ideas, not investing / trading advice.
With home prices rising more than expected in April and May housing data showing that inventory remains low, stocks in home-flipping companies Opendoor Technologies
OPENand Offerpad Solutions $NYSE:OPAD surged Tuesday afternoon.
They're riding the upswell in real estate stocks overall after three economic reports showed surprising strength in home sales and home prices — the S&P Corelogic Case-Shiller index, the FHFA House Price Index, and May new home sales.
Rising home prices make it easier to turn a profit when flippers buy a house, renovate it, then sell it. Conversely, home-flipping stocks slumped when home prices became more volatile and declined, making it harder to value potential purchases with an eye to sell it at a profit.
Opendoor Technologies stock jumped 14% in Tuesday midday trading, after dropping 48% in the past year. Offerpad climbed 9.3% after a 78% plunge in the past year.
Real estate brokerage stocks also benefited from the day's news — eXp World Holdings
EXPI gained 6.6%, Re/Max Holdings $NYSE:RMAX +3.1%; Redfin $NASDAQ:RDFN +7.5%; Anywhere Real Estate $NYSE:HOUS, +3.5%.Zillow
Z, which exited the home-flipping business in 2021, rose 4.5%.Trade attivo
Z meet my pullback criteria and I have opened a 1/4 sized position @ 49.40. My stop is just below today's low so great risk reward here. For those familiar with Gil Morales' work, he uses what he calls a 620 chart on a 5 minute timeframe to time entries. That is what I used today for a low RR trade. Let's see what happens.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
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Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
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.