Sun Communities Rises Progressively Higher

This past Wednesday, we looked at a Daily Price chart of ProShares UltraPro QQQ Nasdaq, and noted that the stock had been making a series of 52-Week Highs.

Today’s Chart of the Day is for Sun Communities, Inc.(NYSE: SUI).

Sun Communities, Inc. is a REIT (real estate investment trust) that, as of September 30, 2019, owns, operates, or has an interest in a portfolio of 389 communities over 134,000 developed sites in the United States and Canada.

The Daily Price chart below shows that SUI has traded in a clear bullish pattern of higher highs and higher lows since January of this year.

SUI Rises Consistently With Higher Highs and Higher Lows

We know from experience that a pattern like this points to a further advance.

You see, typically stocks that make a series of two or more higher highs and higher lows reliably continue on in an upward trend.

But it’s important to note that strong stock rallies have pullbacks along the way.

These pullbacks present a buying opportunity for us.

Purchasing SUI after a 3-5% price pullback has provided a good entry point for the stock this year, and has produced a healthy return.

On July 22nd, for example, SUI had pulled back, opening the door for savvy investors.

If you had purchased SUI shares on this date, you would be up 25.7%.

But… if you had purchased the right option contract, you would now be up 414.7%! That’s the power of options, and the entire purpose of my investment service, Chuck Hughes’ PowerTrend Options. If you missed the webinar back in October, I highly recommend you watch it now.

It’s the only place to get options recommendations from me using the PowerTrend “X-ray” system.

Best Regards,

Chuck Hughes
Editor, Chart Of The Day

Chuck Hughes

Written By Chuck Hughes

Before Chuck Hughes won 10 Trading Championships, he was an accomplished Air Force pilot. In fact, he credits his success as a stock and options trader to his disciplined upbringing and career. When he was deciding between a career in the Navy and a career in the Air Force, the Navy told him he’d only have a 33% chance of flying jets. The Air Force gave him 100%. He liked those odds better. 35 years ago, Chuck had a wife, a young daughter, a son on the way, and a huge mortgage to afford. He didn’t want to give up on his lifelong dream and stop flying for a major commercial airline. He knew he needed to supplement his income during the 15 days a month he wasn’t flying. So he used his experience in discipline and math, and his understanding of finance and the stock markets (which he’d always been interested in,) and opened a $4,600 trading account. He made over $460,000 in profits his first two years of trading, and he hasn’t looked back since. When he was diagnosed with Meniere’s disease 15 years later, which commonly leads to vertigo…He knew his career as a pilot wouldn’t last much longer with those odds. But he didn’t have to scurry to find another gig, or panic about how his family would eat… He’d spent the last 15 years perfecting his system and raking in cash. As an options trader, Chuck does not let his emotions get in the way of his trading strategy. He adheres to disciplined and methodical options and stock trades. Because he respects the options game so highly, and understands the true freedom that financial solvency can bring, Chuck was able to design and refine his system and win those 10 Trading Championships. Put simply, Chuck Hughes’ trading strategies work, and in all types of market conditions. They’ve worked throughout the bull, bear, and flat markets America has seen in the last 30 years. Chuck Hughes has spent that time building a reputation as one of the most trustworthy options traders in the industry. His publishing group Legacy Publishing LLC was one of the few trading groups on the planet to have correctly predicted and profited from the 2008 financial crash .As a published author 16 times over, a 10-time Trading Championship winner, and an options-trading teacher for 25 years, he’s learned to trade and teach without an ego.