Singapore REITs market is heading towards 800 resistance level; closing this week above the high of the bullish engulfing pattern we saw last week; a bullish sign in the short term.
Technically speaking
- $FTSE ST Real Estate Investment Trusts(FSTAS8670.IN) is heading towards 800 resistance level.
- It closed this week above the high of the bullish engulfing pattern we saw last week; a bullish sign for the near term.
- Next resistance level at 800, support level at 770.
Possible action
- Aggressive REITs investors might consider looking for entries from their shopping list if bullishness continues. But be prepared for volatility mainly cause by trade war concerns.
- Tighten stops to protect profits for existing positions.
- Prepare shopping list; Use https://app.yieldsavvy.com to identify the stronger REITs.
- Singapore REITs earning season is now on! One REITs reporting in the coming week. Do pay attention to it if you’re holding or planning to buy it.
Week closing 6 Jul 2018
Want a comparison list of Singapore High-Yield REITs? Get it here.