Bryan Bottarelli, Head Trade Tactician, Monument Traders Alliance Last week, we received a unique pattern that I call a "Gift Gap." It occurred on a company called Innovative Industrial Properties (IIPR). Today, I'm going to explain what a "Gift Gap" is - and show you exactly how to profit off it. Here's the rundown... Last week, IIPR dropped $18.79 (a 16.95% haircut) after its operating, investment and capital markets activity for the fourth quarter and the 2022 fiscal year was not met kindly on Wall Street. As you probably know, Innovative Industrial Properties is the first and only real estate company on the New York Stock Exchange that's focused on the regulated U.S. cannabis industry. You'll see below that last week's drop created a massive gap in the chart. This void from $110 down to $97.50 is what I call a "Gift Gap." Now, here's the thing... When it comes to gaps of this size and magnitude, they eventually get filled back in at some point. When this "backfill" move happens, you want to be ready. Why? |
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