Just like Cache Logistics Trust, First REIT saw its unit price moving higher on the back of higher volume in the last session.
Unlike my position in Cache Logistics Trust, however, my long position in First REIT is much larger and I stand ready to sell into strength if the opportunity presents itself.
It seems to me that First REIT's unit price broke out of an ascending triangle pattern. If this pattern is a valid one, we could see the high achieved in late July earlier this year tested. This is at 84c. Before that, I expect gap filling at 81c which could offer some resistance......