Singapore REITs index heading towards resistance (Week closing 6 Jul 2018)

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.

 

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