“Goodman Group is arguably the highest quality REIT on the Australian share market,” Michael said.

“It is a $70 billion property group that invests in and manages a range of industrial properties, and they are now moving into data centres.

“The share price has more than doubled in the past two years and this makes it hard for new investors to know if it is too late to buy the shares.

“Despite the shares sitting near their all-time time high, the charts indicate that they are ready to head higher again.

“After hitting a peak in mid-July at levels over $37, GMG then eased back towards $32 before finding support.

“It then rallied back up in September to test the old high.

“From there, we can see that it traded sideways alongside the old high (circled) for several weeks.

“This is a positive sign as it demonstrates that anyone selling near the old high has been met with some good buying support.

“GMG is now breaking out of this consolidation, and it should continue to trend higher from here.

“Current levels are a buying opportunity,” Michael said.

 Goodman Group (GMG)

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