CORRESPONDENCE COURSES
Mapletree Com Tr: Uptrend to continue as per targets? Price 2.25
Author: Trading Impossible | Joey Choy
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Just last month, we have seen Mapletree Com Tr consolidated sideways from 2.0 to 2.10 quietly…
It was kind of taking a breather with its uptrend still looking good..
But market was weaker and sold off with the US China trade tensions escalating but this counter was still pretty defensive..
Holding firmly above 2.00 as seen below..
Was expecting a rebound from this level and eventually for it to break the 2.10 mark to push higher, hence some upside targets were drawn…
About 2 weeks back, finally, we managed to see an attempt to break the 2.10 resistance as mentioned,
Target to the upside was reiterated again as seen below..
To 2.20 first where we may see some profit taking..
Uptrend still looks firm from the trend indicators…
Over the past week, the 2.20 target and resistance gave way to more strength as well and we have hit a high of 2.30 before sellers came back..
Some consolidation seen for now above 2.20 which is normal given the rise we have seen..
Uptrend still looking good above 2.20 and we may see it continue on more bullish above 2.30 where target can be revised higher…
Watching for now… Let’s see..
