Conclusion, Investment Implications, Strategy
Duke Realty Corporation (DRE) appears to be resuming its late March advance following 4 months of sideways investor indecision. A sustained rise above the upper boundary of the indecision area, currently near $35.91, would target an additional 33% rise to $49.00 per share.
Analysis and Rationale
Duke Realty Corporation (DRE) owns and operates approximately 156 million rentable square feet of industrial assets in 20 major logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a member of the S&P 500 Index.
Chart 1 below plots DRE daily since late 2018 and shows that price is currently breaking out higher from about 4 months of sideways investor indecision from the February highs. A sustained rise above the upper boundary of the indecision area, currently near $35.91, would target an eventual, additional 33% rise to $49.00 per share.
Chart 1
Table 1 below shows that, considering the aforementioned upside target and a protective stop placed below the $35.15 area, a long entry price of $36.87 would provide a 1:7.1 risk/reward ratio (risking $1.00 to make $7.10) with an initial risk of 4.7%.
Table 1
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Please consult the table showing our Asbury 6 key market metrics to help determine if this investment is suitable for you.