MIT: Expecting Change of Momentum after Existing Downtrend Line

 




MIT: Expecting Change of Momentum after Existing Downtrend Line

What are we expecting?
Mapletree Industrial Trust (
ME8U) broke its key downtrend line on 18 Mar 21, technically signaling positive trend change. Similar to Apr 2020 move.

Momentum Indicator, MACD (bottom of the chart) is displaying a upward sloping momentum which is supportive of the technical move.

Who should be concerned?
Investors:
 Consider increasing allocation into ME8U under income portfolio, with current indicative yield of 4.50%.

Traders: Taking Long positions with 1st target price at S$2.95, next at S$3.30.Stop Loss below S$2.50.

*Disclaimers apply

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