Saizen REIT - Breakout

Saizen REIT had a nice breakout today as it started the day at 15.5c, above the resistance trendline which I've drawn in orange color, and proceeded to form a white candle. Volume expanded respectably with the upward movement in price. MFI has turned up sharply but being only slightly higher than the halfway mark, this counter is nowhere near overbought. MACD shows a strong buy signal. A quick look at the weekly chart shows the descending 100wMA at 21.5c. There is more upside to this counter yet although it should encounter initial resistance at 17c, the previous high.

As stated in my earlier articles about Saizen REIT in this blog, fundamentally, it is undervalued and should be worth a lot more. Factors in favour of Saizen REIT include (but might not be restricted to) stable income streams due to relatively inelastic demand for Japanese rental apartments, a lowering debt level, persistent insider buying, a strong Yen which means NAV should be adjusted upwards and could give rise to potentially higher yield as well. Over the next few months, Saizen REIT should see greater appreciation in price as more investors realise its true value. Congratulations to fellow unitholders!
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Passive income with high yields: Saizen REIT

Golden Agriculture: slow and steady?

Golden agriculture closed above the declining 100wMA today on low volume. This being the weekly chart, we have to see if it stays above the 100wMA at the end of the week.

Even though there is a negative divergence between price and volume, I see limited downside with all the MAs rising and within close proximity of each other on the daily chart. However, without a surge in buying momentum or some positive catalyst, this counter might end up moving sideways for a while.

The FA for crude palm oil (CPO) and for Golden Agriculture remains positive. Patience will be rewarded.