Sponsored Links

To retire by age 45, start with a plan.

"Is early retirement the right financial choice?" Jim Ellis discusses long-term financial growth strategies. I have blogged a...

Past blog posts now load week by week. The old style created a problem for some as the system would load 50 blog posts each time. Hope the new style is better. Search archives in box below.

Archives

"E-book" by AK

Second "e-book".

Pageviews since Dec'09

Recent Comments

ASSI's Guest bloggers

First REIT: Rising on low volume.

Monday, March 21, 2011

In my last blog post on the REIT, I suggested that the downside proposition looked more persuasive but I was also beginning to see positive divergences. Today, the MACD turned up and formed a higher low.


Price moved higher and closed at 73.5c. I think the positive divergence has been validated. However, rising on rather low volume is lacking in persuasive power.

Technically, the REIT is still in a downtrend which started on 20 Jan 2011. The trend resistance is at 74c. If price is able to break 74c convincingly, by this I mean with higher volume, we could see old highs tested as the downtrend breaks.

Unable to break the trend resistance at 74c could see the REIT trading lower and I would not be surprised then if the rising 200dMA should be tested for support. This is still at 70c.

Related post:
First REIT: Buying more?

0 comments:

Monthly Popular Posts

 
 
Bloggy Award