SLG: ‘Buy Zone’ Opportunity Spotted

REITs are on the rise!

Yesterday, we looked at a Monthly Price Chart of   August 20th, 2024 SLG: 'Buy Zone' Opportunity Spotted Dear Reader, REITs are on the rise! For today's Trade of the Day we will be looking at a Keltner Channel chart for SL Green Realty Corp. stock symbol: SLG. SL Green Realty Corp., is a New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing, and maximizing value of Manhattan commercial properties. Now, let's begin to break down the Keltner Channel chart for SLG.  The Keltner Channel "Buy Zone" The Hughes Optioneering Team uses the Keltner Channels as an indicator to determine whether a stock is overbought or oversold. If a stock's daily stock price is trading above the upper Keltner Channel, this signals that the stock is temporarily overbought and subject to a retracement. Even stocks that are in the strongest bull trends do not advance in a straight line. There are always price retracements along the way. When a stock becomes overbought, it's price will typically decline soon after as the inevitable profit taking occurs. The SLG daily price chart shows that the stock is in a strong price uptrend and has become overbought several times. You can see this as SLG has traded above the Upper Keltner Channel on multiple occasions recently. But, in every scenario when SLG became overbought, the stock soon experienced a pullback. Finding opportunities when a stock experiences a pullback is why the Hughes Optioneering Team uses the Keltner Channels. They help us find a lower-risk entry point. The Keltner Channel "Buy Zone" occurs when a stock is trading below the upper Keltner Channel. Once the daily price is trading below the upper channel, it provides a lower-risk buying opportunity as the stock is likely to rally. Profit if SLG is Up, Down, or Flat Now, since SLG is currently trading in the Keltner Channel 'Buy Zone', this offers a prime trade entry opportunity. Let's use the Hughes Optioneering calculator to look at the potential returns for a SLG call option spread. The analysis reveals that if SLG stock is flat or up at all at expiration the spread will realize a 78.6% return (circled).  And if SLG stock decreases 7.5% at option expiration, the option spread would make a 33.2% return (circled).  Option spread trades can result in a higher percentage of winning trades compared to a directional option trade if you can profit when the underlying stock/ETF is up, down or flat. A higher percentage of winning trades can give you the discipline needed to become a successful trader.  The Hughes Optioneering Team is here to help you identify profit opportunities just like this one. The prices and returns represented below were calculated based on the current stock and option pricing for SLG on 8/19/2024 before commissions. Heard of Platinum Reserve Options?  Have your heard of my Platinum Reserve Options trading club? Check out this video I made to learn about it!  I want you to follow in my footsteps for the opportunity to succeed beyond your wildest dreams, so please call my office at (737) 292-4425 and get started today! Wishing You the Best in Investing Success, Chuck Hughes Editor, Trade of the Day Have any questions? Email us at dailytrade@chuckstod.com *Trading incurs risk and some people lose money trading. See Related Articles 109.3% Profit Potential for this REIT? Cybersecurity Stock Pushing Higher Breakout Trend for Discount Retailer   © 2024 Tradewins Publishing. All rights reserved. | Privacy Policy | Terms and Conditions | Contact Us If you didn't create an account using this email address, please ignore this email or unsubscribe using the link below. To ensure delivery of this email to your inbox and to enable images to load in future mailings, please add todaystrade@chuckstod.com to your e-mail address book or safe senders list. DISCLAIMER: Auto-trading, or any broker or advisor-directed type of trading, is not supported or endorsed by Legacy Publishing LLC. For additional information on auto-trading, you may visit the SEC's website: All About Auto-Trading. The information provided by the Legacy Publishing LLC ("Legacy") Trading Services, newsletters and educational publications ("Services") is not customized or personalized to any particular risk profile or tolerance. Nor is the information published by Legacy a customized or personalized recommendation to buy, sell, hold, or invest in particular financial products. Past performance is not necessarily indicative of future results. Please note that results may not be typical and can vary from person to person. There are inherent risks involved with investing in the stock and options market, including the loss of your investment. Any investment is at your own risk. You should only trade or invest your "risk capital" – money you can afford to lose.

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