Scott has 2 boring Reits that won’t give you anxiety. $CUBE $NSA – April 12, 2022

by DAN CUBE NSA 
This is Scott with your Chart of the Day. I actually have two charts for you, they are kind of boring old, sleepy old, REITs. The market is blah lately, let’s be honest, but there are still some areas that are in nice uptrends, and the REIT section is one of them. In market uncertainty, people are looking for some sort of yield. These aren’t, as we call them at Stock Market Mentor, yield hogs, but they do offer a little bit of a dividend.

We will start things off here with CubeSmart ( NYSE: CUBE ). CubeSmart ( NYSE: CUBE ) is above all the major moving averages. We have a little bit of a low handle here, I would say a proper handle would probably be up here in the 56.00 area. But with the market weakness, I’m not surprised that this isn’t near the highs, a lot of things are down off of their highs. We do have a nice short base here, kind of around the 53.00-54.00 zone.

What I would look for on CubeSmart ( NYSE: CUBE ) is either a break above that level right there, about 54.30. Or, potentially, a little pullback bounce by around the 8-day exponential period moving average. This level has acted as support over the last 2-weeks or so. And so if it doesn’t act as support, well then it is doing something different, you will probably want to exit the trade. That is what I would look for, potentially a little pullback, buy bounce, and then you would add on a break higher above 56.30.

The other REIT that I want to show you is NSA ( NYSE: NSA ). Now, it’s not that NSA, it is not the NSA that listened in on your last phone call, it’s National Storage Affiliates Trust ( NYSE: NSA ). The chart pattern pretty much looks the same. All the major moving averages, all above, and they are in order, 8, 21, 50, 200. So right there it makes the cut for my stock selection.

What I want to see from here is kind of the same setup. Either a potential low-risk entry buy near the 8-day or the 21-day and then it has to close above that level. Or a breakout higher and kind of a move on volume above 64.70. I have an alert here at 64.66, just below so if it gets close to that 64.70 level I will be alerted for it, I can flip it up on my screen here and take a look at it. That is what I think we should be watching in this market as the market kind of figures out what it wants to do.

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