REIT’s to the Rescue? Well a Few

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With the broad market taking a three day plunge many REIT’s are following suit showing the Three Black Crows pattern (related below). This bearish continuation pattern does not bode well for many in the sector. But it is precisely when most of a sector is heading lower that you can discern strength from weakness within it. Three REIT’s, American Capital Agency Corp (ticker:$AGNC), Annaly Capital Management (ticker:$NLY) and SL Green Realty Corp (ticker:$SLG) are bucking this trend. Let’s take a look.

American Capital Agency Corp, AGNC

AGNC has been in a rising trend since mid April. It is now testing resistance at top where it gapped lower after March 21. As it approaches the Relative Strength Index (RSI) is rising, the Moving Average Convergence Divergence (MACD) indicator is increasing and the Bollinger bands are expanding as it hits the…