$VICI - LONG TERM -
Added 2024-04-05 12:46:47 +0000 UTCIs a real estate company with incredible margins (+60% net profit margin) but has been moving sideways since 2022 due to higher interest rates.....it goes without saying that higher interest rates will cause people to delay getting a mortgage or more appropriately getting approved to get a mortgage, so for this year, the share price has moved sideways until the Fed makes a decision on when to cut.
Right now, we are not seeing any indication from this chart that the market believes they know what the Fed is going to do......I personally don't think the Fed knows what it is going to do.
So for now, we can not rule out a red ABC correction to continue down to the 0.5 Fib at $22.75 or even lower....the longer the Fed takes, the more likely this is to pull back further.
But if inflation does come down and the Fed can cut this summer, we could get a breakout to the upside here, above the green line at $35.70, which would trigger the bull case and confirm Wave 3...once it holds above this level.
So this is certainly a company to watch to take advantage of Fed cuts I believe and an attractive long term hold.
Dividend is also 5.7% which makes this very attractive.
