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%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.