Singapore REITs index started with a bang this week but fizzled out (Week closing 24 Aug 2018)

Singapore REITs market started the week with a bang but fizzled out to close lower; down trend still in play until we break 820 resistance level.

Technically speaking

  • $FTSE ST Real Estate Investment Trusts(FSTAS8670.IN) closed the week at 805.44 with a graveyard doji weekly candle; a bearish sign.
  • We have a Lower High and Lower Low pattern on the weekly chart; a downtrend pattern.
  • We seem to be stuck in range between support at 800 level and resistance at 820. These levels were drawn on our charts since many weeks ago.
  • We need to break and stay above 820 resistance to break this downtrend pattern.

 

Possible action

  • Aggressive REITs investors might want to wait for the new weekly low to be formed before shopping. But be prepared for volatility mainly cause by trade war concerns, and now the Turkey/EU concerns too.
  • Tighten stops to protect profits for existing positions.
  • Prepare shopping list; Use https://app.yieldsavvy.com to identify the stronger REITs.

 

Week closing 24 Aug 2018

 

Top Gainers (Week closing 24 Aug 2018)

 

Top Losers (Week closing 24 Aug 2018)

 

Unchanged (Week closing 24 Aug 2018)

 

Want a comparison list of Singapore High-Yield REITs? Get it here.

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