NMRK on Road to Create New 52wk Highs
Newmark Group, Inc (NMRK) is a commercial real estate advisement firm. They offer a full suite of services for both the owners and tenants. Their client base includes many from Fortune 500 and Forbes Global 2000. They maintained a positive EPS for 2020, and their outlook for 2021/22 is a positive increase.
NMRK has tested the $13.62 resistance line multiples times before today's breakout. Today's breakout is accompanied by an increase in Vol over the Vol 21MA, RSI pointing up and nearing oversold territory, and an ADX showing growing strength in a positive trend. The stacking of the EMAs also confirms the bullish trend.
For my trade plan, I will use the 21EMA as a trailing stop. Since I require a RR 3:1 to enter the trade, I will set the target profit at $16.11 with a revaluation of the trade occurring at the $15 resistance line.
NMRK has tested the $13.62 resistance line multiples times before today's breakout. Today's breakout is accompanied by an increase in Vol over the Vol 21MA, RSI pointing up and nearing oversold territory, and an ADX showing growing strength in a positive trend. The stacking of the EMAs also confirms the bullish trend.
For my trade plan, I will use the 21EMA as a trailing stop. Since I require a RR 3:1 to enter the trade, I will set the target profit at $16.11 with a revaluation of the trade occurring at the $15 resistance line.
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ronaldryninger.substack.com
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