CORRESPONDENCE COURSES
Ascendas-hTrust: Uptrend may still continue to play out… Targets revised as seen… Price 0.895.
Author: Trading Impossible | Joey Choy
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Just at the beginning of the year, we spotted this counter showing signs of upwards reversal…
The REITS sector were showing signs of bottoming out and some were slowly gaining strength, including this counter Ascendas-hTrust.
Trend indicators were starting to point up and..
More importantly, we saw some bullish actions above the key 0.83 resistance level…
Some upside targets were drawn as a result… see what I mean…
As weeks passed, we have indeed seen more strength with it pulling away from the new support at 0.82..
Moving averages also continued to play out positively as expected and bullish crossovers were seen..
Target were thus reiterated towards 0.900 as seen…
Fast forward to today, we have finally touched our target at 0.900,
And yes, the uptrend still looks quite alright despite some profit taking seen for now which is normal…
There may be some slight consolidation before we see another attempt to push higher…
where target can be revised…
Watching.. Let’s see…
One of the Reits you can put in your watchlist for dividend yield and also potential capital gains..
