GROWTHPOINT PROPERTIES (GRT): Real Estate Stands Out - Friday, 12 July 2024

Scanning for opportunities in the U.S last night, the real estate sector stood out as a theme, with several ETFs being reflected on my screeners.

Screener as of 21h30, Thursday 11 July

Considering local opportunities, GRT is a setting up as a potential continuation trade. The share is developing pennant formation which is triggered above 1247c, with a target of 1302c. The setup is temporarily invalidated on a daily close below 1216c.

GRT chart after Thursday's close.

Lester Davids

Analyst: Unum Capital