M44U trade ideas
Mapletree Logistics Trust - breaking out of Bull FlagAfter hitting a high of 2.09 on 1st June, MLT has been consolidating in the past 2 weeks and forming a Bull Flag. The low was in place @ 1.84 (horizontal and 38% fib retracement support there).
It broke out of this Bull Flag @ 1.94 today and looks set to resume it's uptrend in the coming days. Expecting a retest of 2.08 although whether it could break this level in the near term remains to be seen
Long @ 1.95 with initial stop @1.89.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Caught the bullish bias after a wrong short eons agoI think the stock will be seeing some more rally as long as the stock stays supported above 1.85-1.86
Mapletree bearish momentum weakIn response to our previous trade, the bear sell down was weak when price breaks above the range box. hence we are looking at 88.6% as the next target.
Mapletree Log is still in corrective phaseMapletree log is on the way to complete the B wave and it is slated to move one final push ahead. Should the push is finalised at the supply level or 78.6% of wave A, there is a great chance that price will swiftly break below the rising wedge.
Momentum analysis suggest that the (b)-(c) sub wave of B is showing signs of slowing bullish momentum as compared to A.
Mapletree Logistics Trust - Bullish divergence on 4hrly spottedBullish divergence between price and stochastic on the 4hrly. Long @ 1.66 with a stop just below 1.60. Looking for initial profit around 1.80. Let's see how it pans out.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
