June 22, 2024

Mapletree Ind Trust: Uptrend don’t look like stopping. Price 2.81. Taking a rest for now.

Author: Trading Impossible | Joey Choy
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Just about 2 weeks back, we saw some really bullish actions with Mapletree Ind Trust approaching the 2.62 resistance level..

That was just after the new year celebrations and it seems like all the Reits will slowly gaining strength..

We have been trading below this key resistance level since Sept 2019 for about 4 months but buyers don’t seem to be giving up in term of attempting to break this level..

Some alerts that were set were triggered when the move came..

A chart was captured with some near term target drawn to the upside.. trend indicators looked bullish then..

Target to 2.80 for a start which is about a 6% potential upside gain, see what I mean below..

A Whatsapp Message was broadcasted to clients as seen above and a few days later, this stock started pushing up as per our target..

It managed to break the 2.70 temp resistance too and buyers were going strong..

It was forming higher highs each day which is definitely a good sign of strength,

Upside target was revised higher again as seen to 3.00 with the eventual potential clearing of 2.80 first target..

Uptrend indicators were still looking strong and pointing to more upside..

That is like another 10% gain from where we were last week from revised target…

Fast forward to today, we have managed to hit our first target at 2.80… and also break above it..

Currently at about 2.82 where we are seeing some good support coming back at 2.80..

Uptrend still look firmly intact with this level holding and moving average positive,

Targets are reiterated again to 3.00 for now.

We may see some consolidation above 2.80 first for now before an attempt to push higher again…

Watching… looking good and definitely still in our watchlist to ride further

Protect profits while riding.. see where we are below now..

Want to GET Notified by Whatsapp Live as it Happens as seen in above Whatsapp Broadcast Message to clients?

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