Singapore REITs market closed below 800 this week; not a good sign.
Technically speaking
- $FTSE ST Real Estate Investment Trusts(FSTAS8670.IN) closed below the critical 800 support level with a ‘doji’ candle on daily chart; a sign of indecision.
- Weekly candle did not close above the ‘hammer’; so there’s little hope of bullishness at this moment.
- If price breaks below the low of the weekly ‘hammer’ next week, that’ll set a tone for more downside to come.
- Next support at 770, 740, and alas, 700 support levels.
- Trend remains bearish.
Possible action
- Tighten stops to protect profits for existing positions.
- Prepare shopping list should the drop happens; Use https://app.yieldsavvy.com to identify the stronger REITs.
Week closing 1 Jun 2018
Want a comparison list of Singapore High-Yield REITs? Get it here.