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Out of 2,642 lots which changed hands in the last session, 2,022 lots were bought up at 22.5c and 23c.
DTZ also said there has been a slight shift in investment prospects across sectors. Industrial properties, which have been buoyed by a strong recovery in exports, now offer more opportunities than retail. However, offices still remain the most attractive real-estate segment in Asia Pacific. Read article here.
Technically, the 20dMA has flattened while the longer term daily MAs continue to rise. The Bollinger bands have been narrowing. The RSI, a measure of buying momentum, has been forming higher lows. If I were to hazard a guess, we could see the price of this REIT going higher in the not too distant future. The immediate target I have remains at 26c. Support at 22c seems rather strong. If it should fail to hold, the rising 100dMA should provide a stronger support at 21.5c and you might see me going on a buying frenzy then.
Related post:
AIMS AMP Capital Industrial REIT and Singapore's 5.8% growth in October exports.
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