by Sam Collins | September 20, 2012 1:06 am
Home Properties (NYSE:HME) — This real estate investment trust (REIT) engages in the ownership, operation, acquisition, development and rehabilitation of apartment communities in the United States. The stock has been in a bull market since March 2009, progressing higher despite a ragged real estate market.
Currently, the stock is consolidating in a bull channel and is supported by three buy signals from our proprietary indicator, the Collins-Bollinger-Reversal (CBR). The recent consolidation is at $63. If that price is broken, look for support at the 200-day moving average at just above $60.
S&P and Wunderlich Securities reiterated their “buy” ratings on HME with a price target of $69 and $70, respectively. Technically the stock is trading on the support line of the bull channel with a target of $69, the top of the channel. HME has a dividend yield of 4%.
Source URL: http://investorplace.com/2012/09/trade-of-the-day-home-properties-nyse-hme/
Short URL: http://invstplc.com/1fFNbSS
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.