Shares & Derivatives
Saizen REIT: A retest of resistance at 18c?
By A Singaporean Stockmarket Investor (ASSI)  •  October 17, 2012
On two occasions in the past, I did not partially divest my investment in Saizen REIT as its unit price touched a high of 18c. It was due to a belief that it remained undervalued even at that price. Yesterday, Saizen REIT's unit price broke resistance at 16.8c while it touched a high of 17.7c before closing at 17.4c today. Could we see 18c again soon?
The lower highs on the MACD and the declining OBV are rather ominous. Forming negative divergences with the ever rising unit price, any chart watcher would not be wrong to wonder if a correction could take place soon. In such an instance, immediate support is at the former resistance of 16.8c and if that fails to hold, the next support is at 16.4c. So, would I sell if a retest of 18c should take place? I could do a partial divestment. Related post: ......
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By A Singaporean Stockmarket Investor (ASSI)
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