Senior Housing Real Estate ETF: New Highs
Fully highlighted the IYR Real Estate ETF which looks to be more than a bear market rally. If momentum keeps up, we may see that Real Estate ETF re-test the pre-financial crisis highs!
Another real estate ETF that is making new all time highs is the Long Term Care ETF (OLD) which has 65% exposure to senior housing REIT stocks like Welltower, Omega Healthcare Investors, National Health Investors and so on.
The OLD ETF broke out of a 3 year downtrend against the Nasdaq 100 in November 2018. On the nominal chart, we see a possible cup and handle with a breakout above the neckline to new all time highs for the ETF. Possible price target of the cup and handle breakout is 33.50 which is about 19% higher than current prices. -Harry