REA is correlated to both the real estate and tech sectors, a great combination at this stage of the cycle. The last few week’s 15% pullback feels like a washout of the weak longs, which could easily produce a sharp reversal higher into Christmas – this week looks like it already!
- We can see REA testing the $170-180 area into 2024, or ~15% higher.
MM is now bullish on REA
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