Agree Realty is a REIT that focuses on retail properties. Retail has had a difficult time throughout 2020 due to the pandemic. However, as the pandemic subsides and the economy opens up, retail is expected to pick up again. Agree Realty has brands like 7-Eleven, 24 Hour Fitness, and PetSmart in its portfolio. Such industry-leading names and a tight focus on retail places the company favorably as far as long term growth is concerned.

 The long term monthly chart for Agree Realty shows a steady uptrend from 2012 onwards and an acceleration in the uptrend post 2015. The price peaked out in the middle of 2019 before falling close to 45%. The fall in March 2020 briefly took the price below the bottom of the long term trend. Since then, the price seems to have found support around the $62 level and is currently at the intersection of the support level as well as the bottom of the long term trend. That makes it a high probability long trade with a target of $80 and a minimum stop loss around $60, below the bottom of the long term trend.

This trade has been entered into our portfolio at the prices that follow. Entry price $ 64.13. Stop-loss 15% below at $24.61. Take profit at the top of the long term trend at $82.31 with a potential profit of 28%.