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Jeremy Frommer, CEO of Hedge Fund LIVE Jeremy Frommer has 20 years of industry experience and is currently responsible for general management and leadership of the General Partner. Previously, Mr. Frommer was a Managing Director and Head of the Global Prime Services Group (“GPS”) at RBC... More
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  • Trade Alert CDR  0 comments
    May 19, 2011 9:32 AM | about stocks: CDR
    fib retracement, volume, cdr, support, resistance

    Chart of CDR with Trend Line and Fib Retracement (click to enlarge)

    HedgeFundLive.com

    CDR a REIT company owns, opearates and develops, and redevelops supermarket and drug store anchored convenience centers mostly on the east coast. As of 12/31/07 it owned 118 properties. CDR was founded in 1984 and located in Port Washington, NY. Since the near term high on April 6 of 6.17 the stock has been in a downtrend. Today the stock traded over 3x’s volume and was up over 6% today but saw heavy resistance at 5.62. Look for the stock to breakout above 5.78 for a buy confirmation. Look for the stock to see some resistance at $6.10 that is a 5.5% move to the upside. CDR closed above the 23.6% fib retracement and higher than yesterdays high. Keep a careful eye on the stock once it breaks resistance for the move to 6.10. 
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