Looks good for a swing trade. Broken support became resistance now back above for support. First break of resistance during the downtrend. Strong move above today. NAV 18.50 ***Small position ***Weekly chart
No, dude, too early. Wait for a retest. If you look at the previous boxes, you would see it made a retest every single time.
It is still on the downtrend though it is going down very very slowly; the highs are getting lower and lower and lower. recent volume - no significant increase. If the Roaring Kitty didn't roar about this LAND, Then LAND might not go up.
I didn’t suggest jumping in at current price but not a bad idea if willing to add on a retracement. I’ll be adding on a retest of broken resistance. Boxes keep getting smaller suggesting selling ending. I prefer FPI in the farmland area so have a significantly larger position there. LAND is a trade. FPI is an investment.
One thing that you might have overlooked, however, is that this damn chart looks exactly like a pump and dump.
//---- or perhaps it's inversely correlated to fed funds rate...... easy to see comparing both charts..... falling rates, yet to be seen, should help both farm land buying and farmers themselves..... selling way under book..... margins are good..... dividend payers in falling rates tend to be sought after...... institutions own a fair sized chunk..... reits in general are undervalued as it stands...... maybe it was a fed pump and dump......h
NOT a pump & dump stock. I've been in & out of this stock several times over the past few years & follow this space pretty closely as I have ~30% of net worth in farmland. Back in 2021 & 2022 there was lots of talk about inflation/hyperinflation. Land (farmland) was being talked about quite often as a hedge against inflation. Farmland did great during the high inflation of the 70s. There was too much money chasing too few investments in the farmland area. LAND had no fundamental reason for being that high. All momentum. LAND pays a 4% div yield and owns ~$1.5 billion of farmland and water. That's not your typical pump & dump stock. Other farmland stocks (FPI/ALCO/etc..) had similar moves during the inflation mania.
Book value shows ~20 per share, so it's "undervalued" at this point and right inside the old price range before it blew up. Actual liquidation value (since they would be selling real estate to do so) might not be as good. Unfortunately for me, trying to learn how to value stocks has ended in humiliation, over and over again. The only thing that works for me is raw momentum, and she's dead, Jim! Not to be construed as a discouraging comment against your recommendation, because how much lower can it really go? Got about 80% of my net worth in land myself, FWIW.