SEGRO Plc, founded in 1920, is a Real Estate Investment Trust (REIT) that specializes in the ownership, management, and development of modern warehouses and industrial properties in the UK and Europe . With a market capitalization of nearly £9 billion, SEGRO is a prominent player in the industry. The company is listed on the London Stock Exchange and is a constituent of the FTSE 100 index. Over the years, SEGRO has experienced significant growth, with its stock price increasing more than ten-fold between 2009 and early January 2022, from under 150 to over 1500 pence per share.
As we can see, the stock from its January 2022 high, lost 50% of its price and now it is very likely to recover in part as it seems to have completed the first wave of correction (A) and is very likely to give us buying opportunities as it is about to unfold its wave C of (B), which has a structure of 12345 waves. Wave 2 has probably completed and wave 3 is about to unfold, giving opportunities to open buying positions. The DMO index is also moving in this direction, forming a positive divergence on the daily chart.
As we can see, the stock from its January 2022 high, lost 50% of its price and now it is very likely to recover in part as it seems to have completed the first wave of correction (A) and is very likely to give us buying opportunities as it is about to unfold its wave C of (B), which has a structure of 12345 waves. Wave 2 has probably completed and wave 3 is about to unfold, giving opportunities to open buying positions. The DMO index is also moving in this direction, forming a positive divergence on the daily chart.
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