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Bullboard - Stock Discussion Forum Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

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

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... see more

TSX:AX.PR.E - Post Discussion

Artis Real Estate Investment Pref Shs Series E > Artis Real Estate Investment Trust forms bearish "Pennant"
View:
Post by MARKOPOLIS on Nov 29, 2023 7:49pm

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.

Price Chart - Artis Real Estate Investment Trust
Comment by garyreins on Nov 29, 2023 8:02pm
I agree it's not trading great considering a 9m share buyer stepped in and strategic review entering month 4 with a 10% yield.... very bearish indeed. 
Artis Real Estate Investment Pref Shs Series E
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