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Today, I decided to rely on the many positive divergences in the daily chart of CLT and I added to my long position with additional purchases at 92.5c. The counter closed at 94c today, forming a long wickless white candle in the process. Volume was higher than the session before too.
However, closing at 94c means that the downtrend is still intact. If there should be a follow through next week, we would see the downtrend broken and price could rise to test resistance at 96c as provided by the merged 100d and 50d MAs or even 97c which is where we find the 200dMA.
Related post:
Cache Logistics Trust: Initiated long position at 91.5c
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4 comments:
Hi AK71
I've been adding on to my Cache position in the last 2 weeks as well. Considering that the quarterly result will be announced around the third week of April, the price should also be moving up towards then, barring any further catastrophe in Japan or Middle East.
In any case, any further weakness in price is a good opportunity to load more.
Cheers,
Busta
Hi Busta,
Yes, I notice a pattern in the Trust's price movement too. Hope to make some good money here.
Thanks for sharing your observations. :)
Hi AK
How about Cambrigde ? at 0.475 and pro right DPU 5.07 cents. Yield almost 10.5%. worth to accumuclate more ?
Hi Anonymous,
I looked at the announcement by CIT's manager again. We have to read the fine print. Tricky.
5.07c DPU would only kick in end of 2012 once the Extension Development Works are completed. Otherwise the DPU is 4.84c, post rights.
So, to secure a 10% yield, buying at 48.5c per unit or lower would do it.
Could you include your name or initials in future comments? Thanks.
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