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VNQ continues its rise

In the last month VNQ – the Vanguard Real Estate ETF – has formed an ascending triangle, the blue lines. In theory at last, this is a continuation pattern, which means that sooner or later VNQ will break above the upper side of the triangle and resume its uptrend.

In fact, the price action of the last few sessions indicates that this uptrend may have already started. Price has already moved above its 10- and 20-day exponential moving average and is trading just below the upper side of the triangle and the upper Bollinger Band.

In addition to this, MACD has just crossed above its signal line as momentum has started building up.

Add to this the fact that VNQ’s Relative Strength is also moving up and well above its signal line, as this ETF outperforms our benchmark the SPY.

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