Saizen REIT: Still accumulating

Saizen REIT touched 15.5c today again on low volume and I was lucky enough to get some from my overnight queue. 

I have drawn two trendlines: a steeper one in orange color (Uptrend 1) and a gentler one in brown color (Uptrend 2).  Touching 15.5c today, Saizen REIT tested the uptrend support of Uptrend 1 and rebounded to close at 16c.  Not only is 15.5c a trendline support, it is also the 50% Fibo support.  Downside risk exists but looking at the diminishing trade volume, a huge price movement downward is unlikely.  The 100dMA which is about where the 38.2% Fibo line is should provide strong support at 15c.  In the most bearish scenario, I do not see Saizen REIT breaking Uptrend 2 which is at 14c, thereabouts.

MFI did not rebound off the 50% mark as I thought it might in an earlier post.  Instead, it is moving closer to 20%, the border of the oversold region.  This is good, in a way, as when the rally comes, there will be more room for price to move up before it becomes overbought.

Strategy:  15.5c is a nice entry price with limited downside.  I will continue to accumulate on weakness.