New position opened on Brookfield Asset Management. I like the bottoming pattern this stock has been displaying as well as some of their fundamentals.
Here’s my trade entry card:
Brookfield Asset Management Inc. is a publicly owned asset management holding company with approximately $50 billion in assets under management. Through its subsidiaries the firm invests in the property, power, and infrastructure sectors. Its property business include owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending; alternative assets funds; and financial and advisory services. Through its power generation business the firm operates hydroelectric power facilities, interconnections and transmission facilities in Northeast North America, and development of wind power in Canada. Through its funds and private capital business the firm invests in specialty funds including private equity and makes direct investments in real estate, energy, and resource assets. It also makes investments in privately held investment management and equity and fixed income mutual funds. The firm was formerly known as Brascan Corp. Brookfield Asset Management is based in Calgary, Alberta with additional offices in London, and New York City.
Entry
Long BAM-A.TO @ $36.46, stop loss @ $ 33.68, risk per unit $2.78 (7.6%) or 1.4% of capital.
Reasons for my entry
- The chart you will see is my TFG System 1 and I just got a signal on it about 4 days ago. I like it how it found some buyers back in late September and how it held support at 33-33.50. I am entering here with a stop at 33.51 or previous support.
Brookfield Asset Management (BAM) - daily chart
Now, let’s look at the weekly chart
1 Comments until now.
[...] stock seems to be finally getting attention again. I first posted about this stock on Dec 5th here and it has appreciated $ 2.28 per share or 6.3% in only 5 [...]
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