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
T82U trade ideas
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 MICE industry cannot rely on domestic market, that means the business travel sector must be getting ready along with the hotels businesses to cater to the international exhibitors and attendees in time to come.
Look at it as a package rather than which comes first. The snowball effect would be quite powerful once all the floodgates start to open.....
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. (protect with trailing stops on the way up in case the market doesn't want to give that much profit!)
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.
