• The stock has remained in its consolidation triangle and also trading marginally above its 30-day SMA. As long as it stays above the S$0.74-0.75 support, the stock has a good chance to kick out above its trend line resistance at S$0.795.
• A breakout above the S$0.795 resistance is bullish for the stock. The next resistance is at S$0.85. Indicators are currently looking neutral to marginally positive, suggesting that it is still in consolidation.
• This consolidation is a good opportunity to accumulate before the breakout. Keep a tight stop at S$0.73 or below S$0.695.
Parkway Life REIT is established by Parkway Holdings Limited to invest primarily in income-producing real estate and/or real estate-related assets in the Asia-Pacific region that are used primarily for healthcare and/or healthcare-related purposes, whether wholly or partially owned, and whether directly or indirectly held through the ownership of special purpose vehicles whose primary purpose is to own such real estate.
Ascendas REIT (AREIT SP; S$1.33) – BUY
• Previous attempts to penetrate the trend line resistance failed, indicating that this resistance is tough.
• However, the underlying buying momentum is picking up as its MACD has formed a triple bullish divergence. The bulls could start to take charge soon. The key is the breakout above the tough S$1.38 resistance with strong volume.
• Any weakness towards its S$1.20 and S$1.25 support levels should be seen as a chance to pick up the stock. Keep a tight stop below its 30-day SMA at S$1.20.
A-REIT owns a portfolio of properties in Singapore comprising Business & Science Parks, Hi-Tech Industrials, Light Industrials and Logistics & Distribution Centres.
CapitaMall Trust (CT SP; S$1.36) – BUY
• The stock broke out of its consolidation wedge pattern recently and has been holding above the resistance turned support at S$1.22-1.25 levels.
• MACD and RSI remained positive. The RSI has yet to reach its overbought levels, suggesting that there could be a tad more upside. Resistance at S$1.43 and possibly S$1.59 could be tested next.
• Continue to accumulate on weakness with a tight stop at S$1.19 or below its 30-day SMA at S$1.14.
CapitaMall Trust invests in income-producing assets which are used, or predominantly used, for retail purposes primarily in Singapore. Income is mainly derived from rental payments received from a diverse list of over 1,500 leases with local and international retailers.
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