This real estate stock is setting up for a move higher despite the rise in interest rates, charts show

Every day, I go through hundreds of stocks to uncover trading and investing ideas for our clients. Some of that process comes through preset technical screens, while some of it is simply manually paging through charts one by one At times, this can be even more telling than having a program spit out names based solely on criteria. In many ways, using both approaches together is the most valuable process. The biggest confirmation comes when the same names surface through both methods. In other words, I already know the types of patterns that tend to look attractive simply by identifying them visually on a chart. Sometimes those names may not check every box from a technical standpoint, but when they also appear on the preset screens built to identify the exact criteria conducive to breakouts or sustained moves, it gives me a higher level of conviction in using them as trade ideas. Going through this exercise recently, I noticed something interesting: a meaningful number of stocks showing attractive chart patterns stemmed from the real estate sector. What makes that notable, of course, is the backdrop. With the 10-year Treasury yield recently hitting its highest level since early last year near 4.7%, real estate would probably be the last place most investors would think to look for constructive setups. That is exactly why this type of exercise helps eliminate bias. Sometimes, focusing on price action alone gives insight we otherwise may not have considered. …