Just about a month ago, we saw Ascendas Reit approaching the key 2.85 resistance level bullishly..
Trend indicators were also pointing towards an uptrend reversal…
That level was key and this price action caught our attention..
We have been trading below this level since the beginning of last year where it actually sold off from the 2.85..
Therefore, some targets were drawn when we spotted it… to 3.00 first… see what I mean…
Over the past 2 weeks, we have seen some upside and then some consolidation below 2.95…
The 3.00 seems really near but yet sellers were still defending it…
But eventually, buyers mustered enough strength to clear the 2.95 last week…
and today the 3.00 psychological resistance gave way too…
First target as above has been hit… but we have revised it higher too..
Trend indicators still looking good for now, uptrend still looks intact above 3.00..
Let’s see how far it can go from here….
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