GKK showed up in my new scan that I developed. Gramercy Capital Corp is in the real estate sector and it seems like real estate is starting to get a recovery going. Starting is the key word as it is still early in this recovery.
They have an earnings call at 2pm today. So the chart above is the intra day chart on the 15 minute bars. GKK looks highly volatile and does not trade very smooth. But still there may be some action here above and only above 1.8 on a short term basis. If GKK can get above 1.8 and stay above 1.8 I think it could run a little bit more. But anything below 1.8 or falling back under 1.8 after initially breaking above it is a NO GO.
Its interesting that real estate sector is starting to perk up. It seems like it is one of the last sectors to finally catch on to this recovery. But better late then never as they say…