Goodman Group (GMG)  is a $35 billion property group focusing on industrial property. Like other property stocks, it is sensitive to interest rates and economic activity. Michael Gable says that it’s for these reasons that the share price has taken a tumble this year.

“GMG is one of the highest quality REIT’s and when the share price is oversold, it can find plenty of buyers looking to snap it up,” Michael said.

“When we look at the chart (below), for at least the short term, we expect a relief rally here in GMG.

“It has made a few higher highs and higher lows since mid-June.

“In the past several days it has eased back in a tight range before making a nice move higher on Wednesday.

“Current levels are a buying opportunity as we expect it to rally back up towards $21.

“It then needs to break above $21 for the overall downtrend to be over, so a move above that would be more bullish for the longer term,” Michael said.

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