Yield is becoming more sought after as it appears a Fed rate hike is being pushed back further into the future on a seemingly daily basis. One can look to the utility ETF XLU which has enjoyed its first 6 week winning streak since the weeks ending 10/3/14-11/7/14. REITS have also appreciated investors interest and a subsector of the group, tower names, were highlighted on the Barron’s cover this week. Below is a peer in that group CCI and precisely how it was profiled in our Wednesday 9/30 Game Plan.
Stocks that can be bought as they take out bullish falling wedge patterns are CCI. CCI is a REIT play up 2% YTD and lower by 3% over the last one year period and sports a nice dividend yield of 4.2%. Earnings momentum is moving in the right direction with 3 consecutive positive reactions up 3.3, .7 and 4.8% on 7/23, 4/23 and 1/22 following a 6.1% loss on 10/31. A breakout from a very tight consolidation with the 3 weeks ending between 1/23-2/6/15 failed to go anywhere but there have been some nice candlestick patterns recently to suggest a bottom may be in place. A hammer last Thursday has not been tested and found support near 75 number which would be a double bottom with last Decembers prices. A spinning top candle Tuesday is within a falling wedge and enter with a buy stop of 78.95.