RYN looking to set new highs!
* Great earnings year-over-year
* Strong up trend
* High relative strength in the Real Estate sector
* Breaking out of a ~7 month base
* Recently used a multi-year resistance ($35.05) as support
* Looking at the weekly chart it seems like RYN is ready to continue its move to new all-time-highs
Trade Idea:
* If you can stomach a little volatility, now's a great time to enter as the price just broke out.
* If you're looking for a slight discount, you can look for buying opportunities near the $38.40 area as that should serve as support moving forward.
Caution:
* The markets are volatile right now so a daily close below $38.40 would negate the idea for the time being.
* Strong up trend
* High relative strength in the Real Estate sector
* Breaking out of a ~7 month base
* Recently used a multi-year resistance ($35.05) as support
* Looking at the weekly chart it seems like RYN is ready to continue its move to new all-time-highs
Trade Idea:
* If you can stomach a little volatility, now's a great time to enter as the price just broke out.
* If you're looking for a slight discount, you can look for buying opportunities near the $38.40 area as that should serve as support moving forward.
Caution:
* The markets are volatile right now so a daily close below $38.40 would negate the idea for the time being.
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