Thursday, September 19, 2019

Keppel DC Reit: Uptrend to continue further with revised targets? Price 2.07.

Just last month, we saw Keppel DC Reit approaching the key 1.75 resistance bullishly

It has been trading below this level for about 3 months and hence any firm move above can be a good signal of more upside..

More importantly, it was holding firmly above its key moving averages where the uptrend still look pretty intact…

Buyers seems to be ready to take it higher and therefore,

Some targets were drawn towards the 2.00 psychological level as seen below..

Over the past 1 months, we have indeed seen more upside with the occasional profit taking..

It hit 1.90 before some sellers returned to take it lower but buyers were not letting go,

A rebound again and finally 2.00 target hit today..

In fact, it’s quite a bullish move above 2.00 where the uptrend can still continue to play out…

A positive above 2.00 where it may consolidate for a while before more upside..

Some selling near 2.10 expected given the spike up seen over the past few days but the strength may not be over..

Let’s see where we are below..

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