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K-REIT: In retreat.

Tuesday, September 28, 2010

The overbought buying momentum in K-REIT was corrected today as the RSI slipped out of overbought territory.  OBV shows that the trend of accumulation is intact and the MFI still shows rather strong demand.  So?  I won't be overly concerned with the selling down.

Immediate support is at $1.26 which is where we find the 20dMA.  Any further selling should find the next support level at $1.22, the top of a consolidation formation and this is also where we find the 50dMA approximating.  If $1.22 should give, which could, of course, happen, the next support is at $1.16.

Related post:
K-REIT: Moving into the next band?


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