ABR: 💪 Resistance ahead ⚠ Big Money betting on pullback??
Abor Realty Trust ( REIT)...I anticipated a good earnings report as mortgage rates are up significantly and all things real estate are currently booming. 💵
*RKT(ER on 8/3) *UWMC(ER on 8/9) *RDFN (ER on 8/3) *CMTG (ER on 8/1) and ABR have not only outpaced the overall market but some are also up as much as double digits percentages in last 30 days.
ABR's great earnings report on Friday/ dividend increase and strength of realty sector had me convinced we would blow past resistance and possibly pass 52 week high of $17.74....BUT appears institutional money is suggesting a pullback/consolidation period here.
The 100 EMA crossing over the 200 EMA (Golden Cross) indicates strength is building vs the slowing of home sales and highly likely mortgage interest rates decline by EOY....makes this a fascinating footrace to watch.
Arbor Realty Trust's introduction to the S&P Small Cap 600 provides new exposure and plenty growth opportunities but RSI already near 72 makes this resistance almost impenetrable without a pullback 👓
*RKT(ER on 8/3) *UWMC(ER on 8/9) *RDFN (ER on 8/3) *CMTG (ER on 8/1) and ABR have not only outpaced the overall market but some are also up as much as double digits percentages in last 30 days.
ABR's great earnings report on Friday/ dividend increase and strength of realty sector had me convinced we would blow past resistance and possibly pass 52 week high of $17.74....BUT appears institutional money is suggesting a pullback/consolidation period here.
The 100 EMA crossing over the 200 EMA (Golden Cross) indicates strength is building vs the slowing of home sales and highly likely mortgage interest rates decline by EOY....makes this a fascinating footrace to watch.
Arbor Realty Trust's introduction to the S&P Small Cap 600 provides new exposure and plenty growth opportunities but RSI already near 72 makes this resistance almost impenetrable without a pullback 👓