Chart of the Day: Can’t Be Too Disappointed With Welltower

Get away from technology names and we can find some very nice winners exhibiting wonderful strength. Take Welltower ($WELL), a company that keeps chugging along, posting strong earnings, revenue and guidance. The stock is within a whisker of all-time highs hit back in July and has exhibited some beautiful relative strength of late.

The indicators are bullish and support a further rise in Welltower. MACD is solidly on a buy signal while money flow has been growing, having just turned bullish.

Momentum is very strong with stochastics (pane 5) right up near overbought. Impressive, though, is turnover; the volume prints have been bullish after a modest washout in late October.

Big money managers rushed in to add the shares in the low $200s and now they have a profit, but I suspect looking for more upside. This stock could be up to $300 by 2027.

We like Welltower in TheStreet Pro Portfolio and rate it a One, or “buy at anytime.”

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At the time of publication, TheStreet Pro Portfolio was long WELL.

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Posted by Bob Lang

Bob Lang is one of the country’s top options traders, an expert market technician, and a highly sought-after mentor and teacher. He is a private trader in equity and option markets and created his own hedge fund and options trading company called Explosive Options. He is also founder and Chief Options Analyst at Aztec Capital, LLC. He has been a regular contributor to TheStreet Pro's paid subscription products since 2009. Lang is both a short-term trader and long-term stock investor. He utilizes technical and fundamental analysis to find investment opportunities. His coverage for TheStreet Pro specializes in options trading, stock investing, and technical analysis. One of Lang’s claims to fame is his creation of the acronym FANG to describe the top tech companies at the time (Facebook, Amazon, Netflix, and Google). The acronym has since expanded considerably and is still widely used today. He is the author of the book “Know Your Options” and holds an MBA from the University of Redlands. When he’s not providing financial commentary for TheStreet, he can be found on the tennis court, reading, or traveling.

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