Industrial REIT Forming Coiled Bull Flag with Sector Rotations in Play
Prologis (PLD) shares of the REIT name are showing relative strength and forming a coiled bull flag on top of major support of its 200 day EMA and monthly value area near 120. A break above 122 likely can run up to the 127 level where a VPOC sits overhead. The REIT sector continues to see money flows rotate in from overbought momentum names and can see real estate stock break higher from here. PLD saw an opening seller of 1450 May $110 puts at $1.77 on Monday.