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K-REIT: Uptrend intact.

Monday, July 19, 2010

K-REIT's uptrend is intact with a 1c fall in price from the previous session to $1.21. That price closed at the high of the day is encouraging. MFI continues to trend up which suggests sustained demand.  However, it is nearing overbought and we might see the rise in price slowing or, perhaps, we might see a slight pullback to the 20dMA which approximates the uptrend support. In case of a pullback, support is at $1.15.




What makes $1.22 different from $1.22 in January?  When $1.22 was hit in January, the MAs were farther apart from each other compared to what is observed now. Now, the MAs are closer to each other, more tightly knit, if you like. Such an arrangement is likely to limit volatility and provides a firmer platform for any further upmove in price.  All the MAs are rising and the 50dMA seems poised for a golden cross with the 100dMA.

Volume has been stronger on up days compared to down days and if this persists, price could break $1.22 sooner than later.

K‐REIT Asia will distribute to Unitholders 2.97 cents per unit on Aug 26.

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