Artis Real Estate Investment Pref Shs Series E T.AX.P.E

Alternate Symbol(s): T.AX.P.I | T.AX.UN | ARESF

Real Estate REIT - Diversified

Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada. Artis REIT's portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin. The properties are divided into three categories: office, retail, and industrial. The industrial properties account for most of the portfolio, followed by the office properties and the retail properties.

TSX:AX.P.E - Post by User

Artis Real Estate Investment Pref Shs Series E > Artis Real Estate Investment Trust forms bearish "Pennant"

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Post by MARKOPOLISon Nov 29, 2023 7:49pm

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Post# 35759957

Artis Real Estate Investment Trust forms bearish "Pennant"

Artis Real Estate Investment Trust forms bearish "Pennant" chart pattern
Nov 29, 2023

Trading Central has detected a "Pennant (Bearish)" chart pattern formed on Artis Real Estate Investment Trust (AX.UN:TSX). This bearish signal indicates that the stock price may fall from the close of $6.24 to the range of $5.10 - $5.30. The pattern formed over 12 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Tells Me: The price seems to be resuming a sharp decline after taking a brief pause.

A bearish Pennant pattern occurs during a dynamic market decline, representing a brief period of indecision before running off again in the same direction. The pattern consists of two converging trend lines with diminishing volume, and is confirmed when the price breaks down through the lower boundary to resume the decline.

This bearish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.