For 4 weeks in a row, Singapore REITs market closed below 800; REITs market in correction as it is down by 11.6% from the peak.
Technically speaking
- $FTSE ST Real Estate Investment Trusts(FSTAS8670.IN) closed the week below the critical 800 support level and spent the week bouncing around 780 range. This is the 4nd consecutive week it closed below 800.
- The downtrend remains in place.
- Next support at 770, 740, and alas, 700 support levels.
Possible action
- Tighten stops to protect profits for existing positions.
- Prepare shopping list; Use https://app.yieldsavvy.com to identify the stronger REITs.
Week closing 22 Jun 2018
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