Hit a high of 1.97 today before pulling back… let’s watch !
Sent: Wednesday, February 18, 2015 9:23 AM
Subject: **************** Suntec Reit: Potential Rebound - Consolidation in progress, may be a good opportunity to accumulate above 1.90, price 1.92
Subject: **************** Suntec Reit: Potential Rebound - Consolidation in progress, may be a good opportunity to accumulate above 1.90, price 1.92
Following up from prevous call, Suntec Reit has been trading from the 1.90 to 1.935 resistance level and seems to be holding above 1.90 psychological support well. Any breakout above 1.935 – 1.94 resistance on strong volume can pave the way back to 2.00 – 2.01. As long as 1.90 holds as the immediate support, still good for any rebound. Next support would be at 1.86. 20 DAY MA line also coincides with current 1.935 resistance so crossing above this level can end the current consolidation phase. Watchlist ! Stochastic indicator starting to trend upwards as it consolidates higher each day. Need more confirmation on break above horizontal level.
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