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5 REITs Sending Buy Signals in March

General Growth Properties

There's nothing short-term about the pattern that's been setting up in shares of General Growth Properties (GGP - Get Report). The $19 billion mall owner has been forming a bullish ascending triangle pattern for the last seven months, but it's only just getting close to making a significant move in March.

>>4 Reasons to Buy Stocks in 2013

GGP's ascending triangle is formed by a horizontal resistance range above shares (from $20.50 to $21) and uptrending support below shares. Essentially, as GGP bounces between those two big technical levels, it's getting squeezed closer and closer to a breakout above resistance. When that breakout happens, we've got a buy signal for shares.

The fact that GGP's resistance zone is a range rather than a single price does complicate things a bit; shares have previously moved up to $21 a couple of times without actually triggering the pattern. The best way to trade this stock is by your risk level. Traders looking for a higher risk/reward setup should look to buy on a move through $20.50, while more risk-averse investors should hold out for a close above $21 to buy.

Either way to trade this stock, I'd recommend keeping a protective stop at the 200-day moving average.
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GGP $28.03 0.00%
HST $15.82 0.00%
OFC $25.68 0.00%
PEI $22.94 0.00%
RPAI $15.99 0.00%


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