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Sabana REIT: Possibly bottomed.

Tuesday, December 14, 2010

92.5c touched on 10 Dec could possibly be the bottom which worried unitholders are looking for. As with all bottoms, it is only apparent after some time. In fact, calling it a bottom now could be a tad early.

However, the white spinning top, a possible reversal signal, formed today on low volume is encouraging. Volume was the lowest since the REIT started trading in late November. OBV also seems to be rising since 7 Dec, suggesting continual if mild accumulation since. Selling pressure has weakened and if 92.5c was ever tested again, it would be a stronger support as market participants would remember it as the price they missed out on to go long. The worst could be over.

Related post:
Sabana REIT: Touched 92.5c.


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