Brookfield infrastructure bottom in?
Infrastructures, utilities and energy are very sensitive to interest rates as we saw in 2023.
But this long term trend remains to be broken. The monthly RSI is at the 30% level now, the lowest level it has ever been. Price action started to bounce from there, creating a hidden bullish divergence (price making higher low while RSI making lower low).
This stock is now paying around a 6% dividend, and Brookfield has a long history of being a long term winner. I like this setup as an investing/very long term swing trade idea.
But this long term trend remains to be broken. The monthly RSI is at the 30% level now, the lowest level it has ever been. Price action started to bounce from there, creating a hidden bullish divergence (price making higher low while RSI making lower low).
This stock is now paying around a 6% dividend, and Brookfield has a long history of being a long term winner. I like this setup as an investing/very long term swing trade idea.
Uwaga
Up 8% today, hit our head on the 1h00 EMA ribbon. I could see a pullback to about 23$-23.25$ as to confirm this macro fib level as support before taking off.
Uwaga
This thing is just sky rocketting and rightfully so, it was getting incredibly oversold and undervaluedUwaga
I could see this scenario playing out in the next few weeks, some kind of inverse H&S breakout
Uwaga
Interesting how this has played out. Brookfield has a lot of upside potential still if it breaks out of this channel once again.Zlecenie aktywne
This channel is still working years later :)Zlecenie zamknięto ręcznie
29.50$ looks like a good area to start new longs. Middle of the channel/trend + fib level, good confluence there.
If 29,50 isn't the bottom of this corrective wave, 27$ is also a major support level. Good luck guys
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