Singapore REITs market pulled back this week; short term uptrend blocked by 820 resistance.
- $FTSE ST Real Estate Investment Trusts(FSTAS8670.IN) closed the week at 811.10 and forming a graveyard doji weekly candle; a sign of indecision with a bearish tone.
- The index hit the 820 resistance during the week and made a U-turn down from there. 820 is a level we’ve drawn on our charts since many weeks ago.
- Next resistance level at 820, support level at 800.
- Aggressive REITs investors might consider looking for entries from their shopping list if bullishness resumes. 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! Eight REITs reporting in the coming week. Do pay attention to them if you’re holding or planning to buy any of them.
Week closing 27 Jul 2018
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