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FSL Trust: Formed a white hammer, closing at 45c after gapping down to start the day at 44.5c. Closing at 45c is below the trendline support in the short term. Could we be seeing the start of a bottoming process with 42.5c as the base and 46c as the neckline? Could we be seeing the start of a trading range with support at 42.5c and resistance at 46c? Although the MACD is above the signal line, it remains in negative territory. The MFI has peeked above 50% and the OBV is flattish. Selling pressure has abated. That much is obvious.
AIMS AMP Capital Industrial REIT: We have a sell signal on the MACD histogram. The MACD seems to be flattening as the signal line continues rising to catch up. OBV is rounding from a peak although MFI is above 50% and rising gently. Still, I would like to sell some at 23c, the top of the trading range but I might not get my wish. Immediate support is at 21.5c.
SPH: The white spinning top formed last Friday was confirmed today as a reversal signal. Price gapped down from the opening bell and did not once trade above the 200dMA at $3.72. All the technicals suggest that SPH is going to see more weakness in time. Volume expanded today as we have a sell signal on the MACD. I was waiting to sell more at S$3.83 last week but that price did not happen.
CapitaMalls Asia: Although we have a white candle today, it was on reduced volume. The negative divergence between price and volume is obvious. Sell signal seen on the MACD. MFI has been forming lower highs in the short term. OBV is lacklustre. I still see a symmetrical triangle and this needs to be resolved. Otherwise, the situation remains dicey although I believe there is a downward bias.
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