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LMIR's chart looks like it might be in the early stages of a symmetrical triangle. Since late January, the price action has been trapped between 47.5c and 51c. Stochastics has turned up and seems ready to emerge from the oversold region.
As the reason for buying more units in LMIR recently is to lock in a yield of 10% per annum, I am unfazed by any near term weakness in the counter's price. In fact, I bought more at 48c.
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3 comments:
Hey AK,
A question popped to mind. You go to Indonesia quite often for business ryte? Have you popped into any of LMIR's property holdings?
Thx,
~K
Hi K,
Yes, I visited quite a few malls during my trips to Indonesia. Some people I know think LMIR owns second grade malls when they are actually comparable to our suburban malls in Singapore. Not shabby at all. :)
Indonesians are always visiting malls in Singapore. I think Singaporeans should visit Jakarta and take a look at their malls too. ;)
Ah, so they aren't the hype ones I see, but still good enough to pull in the crowd. Good info. Thx a bunch AK.
Cheers!
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