Boardwalk REIT - (BEI.UN.TO) - July 14, 2021 (Daily Stock Report)

by SIACharts.com

Boardwalk REIT has returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report for the first time since 2018. Yesterday the units finished in 45th place up 12 spots on the day and up 66 places over the last month.

 

Since bottoming out in March of 2020, Boardwalk REIT (BEI.UN.TO) has been steadily recovering lost ground, advancing in a step pattern of rallies followed by consolidation at higher levels, and completing a series of bullish Ascending Triangle patterns. In the last few days, accumulation has accelerated into a rally phase with the units climbing on a jump in volumes.

Initial upside resistance appears in the $49.00 to $50.00 area where the February 2020 peak, a measured move and a round number cluster, followed by another measured cluster in the $66.00 to $69.00 area. Initial support appears near $40.00 a recently tested round number.

 

Earlier this month, Boardwalk REIT (BEI.UN.TO) completed a bullish Double Top breakout, continuing an upward trend of higher lows, bullish pattern completions and high poles as the units continue to recover from the early 2020 bear market.

Next potential upside resistance appears at the early 2020 peak near $49.85, just below the $50.00 round number. Additional tests on trend appears near $51.90, $55.05, and $64.50 all based on vertical and horizontal counts. Initial support appears near $41.75 based on a 3-box reversal.

With a perfect SMAX score of 10, BEI.UN.TO is exhibiting strength across the asset classes.

 

******

 

 

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

Total
0
Shares
Previous Article

The Infrastructure Bill Is in Trouble; Larry Summers at the White House

Next Article

Signal versus Noise

Related Posts
Subscribe to AdvisorAnalyst.com notifications
Watch. Listen. Read. Raise your average.