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After the market closed, sleepy and some might even say unloved Sabana REIT saw 2,514 lots bought up at 94c which led to a wickless white candle being formed on higher volume, breaking resistance provided by the declining 50dMA like a hot knife on butter!
The bullish divergence between MACD and price action has delivered and did so in a smashing manner. A test of the declining 100dMA as resistance is most likely and we could see 95c and 95.5c tested next. Although there is no bearish divergence to speak of, locking in some gains is a tempting proposition. I might just divest partially in the face of a rapid appreciation in price.
Related post: Sabana REIT: Still waiting for a 10% yield?
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