Singapore REITs index had a directionless week (Week closing 31 Aug 2018)

Singapore REITs market had a really boring week going nowhere; triangle forming. Rate hike coming later Sep.

Technically speaking

  • $FTSE ST Real Estate Investment Trusts(FSTAS8670.IN) closed the week at 808.04.
  • We are forming a symmetrical triangle on both the daily and weekly charts; meaning the REITs market is looking for a direction, and a break of the triangle will likely give the direction where it will head.
  • We are still stuck in range between support at 800 level and resistance at 820. These levels were drawn on our charts since many weeks ago.

 

  • Although US rate hike decision coming in Sep, I expect it to have been priced in and would be a non-event; Yawn.

 

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 31 Aug 2018

 

Top Gainers (Week closing 31 Aug 2018)

 

Top Losers (Week closing 31 Aug 2018)

 

Unchanged (Week closing 31 Aug 2018)

 

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

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