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ARA: Divestment at $1.30 and $1.32.

Wednesday, January 18, 2012

I have been entering overnight sell orders for ARA at $1.30 since early this month. $1.30 was the price I last sold some ARA at. As I noticed some strength in the upward movement in price, I also put in a sell order at $1.32 last night. Both sell orders at $1.30 and $1.32 were filled today.



Price touched a high of $1.33 today before closing at $1.315. Volume was relatively low compared to 3 sessions ago when price action formed a similar white candle. I wonder if it would have enough fuel to push it past the next resistance at $1.335.

Immediate support is at $1.29 but I expect a stronger support to be at $1.25 in case of a retracement. $1.25 is also where a golden cross is likely to be formed with the 20dMA rising to cross the gradually declining 100dMA. A golden cross was earlier formed between the 20d and 50d MAs.

2 comments:

Wei Xiong How said...

Hi AK, saw that you have traded ARA before. Was wondering if you have any opinion on the fundamentals of this company? It has quite a nice business model and grown quite steadily over the years, giving more than decent returns to shareholders over the past few years. However the stock price has been trending lower and reaching price levels seen in 2012. Hope you can talk to yourself about this interesting company.

AK71 said...

Hi Wei Xiong,

Wow! You have dug up a distant memory of mine. Good job! ;)

I just had a discussion on ARA with some friends recently. The threat to ARA is if REITs should become internally managed instead of externally managed. The fees that ARA collects will be badly affected. However, it doesn't seem like it is going to happen soon.

Definitely, as ARA's share price declines, it is looking more attractive.

This is a rather good example of how I should have been an investor instead of a trader. -.-"

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