Kimco Realty Corp. (KIM) has improved a lot on the charts in the past three months. Let's see if we can present a profitable technical strategy after looking at the charts and indicators.
In the daily bar chart of KIM, below, you can see a February-May basing pattern with an upside breakout in late May/early June. Prices managed to rally above the still declining 200-day moving average line after closing above the now rising 50-day average in May. The daily On-Balance-Volume (OBV) line has shot up sharply from the middle of May and suggests very aggressive buying.
The daily Moving Average Convergence Divergence (MACD) oscillator moved above the zero line in late May for an outright go long signal.
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In this weekly bar chart of KIM, below, we can see that prices have rallied above the declining 40-week moving average line. The average line is starting to flatten after a two year decline. The weekly OBV line is still in a longer-term decline but it has improved from its May low.
The weekly MACD oscillator gave a cover shorts buy signal in April and is close to crossing above the zero line for a longer-term outright go long signal.
In this Point and Figure chart of KIM, below, you can see an upside price target of $26.00.
Bottom line: I see enough technical positives on the charts of KIM to recommend a long position. Traders could probe the long side here risking below $15 for now. Add on a close above $18 looking for $26.00 longer-term.
