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Sabana REIT retested its low of 96c today. To top it off, it closed at 96c. Distribution activity continues for the seventh straight session. This is quite obvious when we look at the OBV. I said before that I could consider getting some if the yield is greater than 9%. Technically, if 96c gives way, the 123.6% Fibo line is at 94.5c and the 138.2% is at 93.5c. I might buy some at those levels.
Golden Agriculture formed an inverted black hammer today, closing at 74c after moving higher in the day. This is a bearish development. I remain wary of the negative divergence between price and volume. I would like to see the uptrend support retested and that is when I might add to my position. This is currently at 70c.
Increase exposure to upstream planters: DBS Vickers
Monday, 06 December 2010
Monday, 06 December 2010
© 2010 - The Edge Singapore
First REIT's trading volume has been declining as price stayed at and above the immediate support at 73.5c. The momentum oscillators are positive and the MACD is rising above the signal line in positive territory. All very nice but as volume dwindles, we have to be wary. If we had missed loading up earlier, loading up now at 73.5c carries a higher risk, technically speaking, even though the uptrend is intact.
Immediate support at 73.5c with the next support at 71.5c and this is also where we find the rising 20dMA. Looking back, this counter has a history of relying on the 20dMA for support as it moved higher. So, buying at the 20dMA is safer.
First REIT +0.7%; Ignores rights issue lodgement
Monday, 06 December 2010
Monday, 06 December 2010
© 2010 - The Edge Singapore
K-Green Trust broke its immediate support at $1.04 and touched a low of $1.03. Immediate resistance is now at $1.06 while we could see the low of $1 achieved on 1 July retested. All the momentum oscillators are downtrending. The declining OBV suggests continual distribution taking place. I had originally thought of buying more at $1 but I might want to wait for clearer signs of a reversal before taking action now.
Related posts:
Sabana REIT: Fundamental analysis.
Golden Agriculture: Levitation act.
First REIT: XR and fair value.
K-Green Trust: A bad investment?
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6 comments:
very disappointed with K-Green. it looks a dud to me. wonder if i should be divesting
Drizzt
Investment Moats.com
Hi Drizzt,
At my entry price of $1.11, if KGT retains the status quo, the real yield is about 1 to 2% per annum, assuming none of the concessions are renewed.
However, if KGT goes on the acquisition trail, which I think it would, this could change dramatically. Being a business trust, it could gear beyond 45% and, to top it off, it has 0 gearing at the moment. So, there is much potential.
I will wait and see. :)
still i think i regreted my impulsive decision in this case
Hi Drizzt,
All of us have our share of bad judgement. We learn from each experience. Don't be too hard on yourself. :)
FR is 70-70.5 today.
Is it a good entry point to start hawk-eyeing for 69-70 cents ? or it is gonna be tough
SnOOpy168
Hi SnOOpy168,
I do not see any reason to sell down units in First REIT below 70c. At 70c, with an annualised DPU of 6.4c in 2011, that's a yield of 9.14%.
There was massive sell down at 71c today. Whether there will be sustained selling down, I don't know but if it does go under 70c, I will buy more. :)
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