GLP has been trading in the range of 2.60 to 3.00 since March this year and we have see it broke above the KEY Psychological resistance level at 3.00. Currently at an all time high at this level but upwards momentum can continue in the short term on this breakout. Possible to head to 3.10 to 3.20 level before consolidating and pulling back on profit taking. As long as 3.00 is a support, we are short term bullish and will continue to ride on momentum.
Stop loss at 2.96 for short term trades
NEWS – 24 September 2013
-- GLP: Signs deal with Vipshop, a Chinese e-commerce firm, to develop 130k sqm of new facilities at GLP Park Dianshanhu II in Kunshan. Construction of 1st phase spanning 60k sqm started last mth. Vipshop also expanding 12k sqm in existing facilities at GLP Park Dianshanhu. The new leases make Vipshop one of GLP's top 10 customers.
CIMB - 19 September 2013
Property - overall - Tapering delayed, so now what?
The US Fed has postponed the tapering of monetary stimulus and this will have a positive near-term impact on S-REIT share prices. But we note that interest rates remain on an upward bias, and an aggressive investment stance on S-REITs may not be wise. We remain selective. Developers, another interest-rate sensitive sector, could be a better bet. We remain Overweight on developers, preferring stocks with less residential and more diversified exposures. UOL, CapLand and GLP remain our key picks. We remain Neutral on S-REITs but highlight AREIT and SUN as our top picks to benefit from this positive event. S-REITs that de-rated the most in the last three months could also rebound the most. These include KREIT, CDLHT and FCOT.
The US Fed has postponed the tapering of monetary stimulus and this will have a positive near-term impact on S-REIT share prices. But we note that interest rates remain on an upward bias, and an aggressive investment stance on S-REITs may not be wise. We remain selective. Developers, another interest-rate sensitive sector, could be a better bet. We remain Overweight on developers, preferring stocks with less residential and more diversified exposures. UOL, CapLand and GLP remain our key picks. We remain Neutral on S-REITs but highlight AREIT and SUN as our top picks to benefit from this positive event. S-REITs that de-rated the most in the last three months could also rebound the most. These include KREIT, CDLHT and FCOT.
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