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The last time I blogged about this REIT was on 29 Dec and I mentioned the rising MACD. This is still valid today. The MACD is rising gently and seems on the verge of crossing into positive territory. With the longer term 100d and 200d MAs both rising, it would seem to be a matter of time before the resistance at the 50dMA is taken out. This is at 22c.
The MFI has been forming higher lows and would be testing 50% once more. If it overcomes this, it would mean an expansion in volume at the current price of 22c or higher. This is one counter that has very limited downside and a nice probability of trading to 25c (for an 8% yield). In the meantime, at 22c, its distribution yield is about 9.1%. I am accumulating.
Related post:
AIMS AMP Capital Industrial REIT: Rising MACD.
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