Suntec REIT hit the bottom with upside bias?14 July 2024
Worth paying attention into REIT if I/R adjusting soon.
Lets watchout for classical pullback to around $1.11 to enter the long side.
Or otherwise, it worth enter with SL around $1-$1.04
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0.06SGD
171.41 MSGD
488.18 MSGD
1.96 B
About SUNTEC REIT
Sector
Industry
CEO
Kee Hiong Chong
Website
Headquarters
Singapore
Founded
2004
ISIN
SG1Q52922370
FIGI
BBG000QM4HF4
Suntec Real Estate Investment Trust engages in owning income-producing real estate, which is primarily used for retail and office purposes. It operates through the following segments: Convention, Retail, and Office. It also operates through the following geographical segments: Singapore, Australia, and United Kingdom. The company was founded on November 1, 2004 and is headquartered in Singapore.
Suntec, a beneficiary of this relaxed regulations Read article here
Looking at the chart, it seems highly likely that the trend continuation will continue and break out from the bearish trend line and proceed higher.
For those who wants extra assurance, wait for the breakout , retrace and find an entry to go long.
This is good news since our
SGX Suntec REIT LongStock is trending upward in a channel. Currently trading near low-point of channel. Potential to move upward. Potential to long @ 1.27 and take profit @ 1.36 (resistance line) while stoploss @ 1.22 (support line).
Suntec - bullish divergence on 4hrly (potentially on daily too)Suntec Reit could be forming a bullish divergence on the daily (need another day to confirm this).
Will be looking to enter based on the 4hrly (bullish divergence there as well).
Long as it starts going above 1.26 (with a stop just below 1.20) and looking to take short term profit around 1.40. (
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