First REIT has been very resilient. It is probably one of the better performers in my portfolio as well. A great investment for income. However, investing for income does not mean that we cannot trade S-REITs from time to time especially if they remain range bound and somewhat predictable. In the case of First REIT, if we look at the weekly chart, it is caught between the 50w and the 20w MAs. Immediate resistance is at 77.5c while immediate support is at 76.5c. Breaking immediate resistance could see 79.5c tested next while breaking immediate support could see 74.5c tested. Now, which way would it go? My take? In the short term, price could go higher. Why? Looking at the daily chart, we see the MACD just crossing into positive territory while the MFI overcame the 50% line which acted as resistance. The MFI continues to move higher. However, ......