Saizen REIT: Obvious uptrend.

Saizen REIT is in an obvious uptrend channel.  The closing in of the 100dMA and 200dMA indicates the formation of a stronger support level at 15c thereabouts.  It also suggests a lack of volatility in the longer term.  Thin trading volume as price goes sideways usually means more downward bias. 

However, given the trend of the longer term MAs, the downside is very limited from current levels.  Any upward push in price will meet with initial resistance at 17c and if this is overcome, the recent high of 18c might be tested.  I would accumulate on dips.

Please remember that I am investing in Saizen REIT due to its very cheap valuation and potentially high yield.  This is not a trade for me and I could hold this for a very long time.

AusGroup, Healthway Medical and Golden Agriculture.

AusGroup closed at 57c today on low volume.  This is the second black candle day in a row experienced by AusGroup on low volume while the two preceding white candle days happened with relatively higher volume.  This is a positive.  The MFI has formed a higher low while the MACD continues to pull higher away from the signal line after forming a bullish crossover three sessions ago.  Any continuing attempt to move higher will have to overcome resistance provided by a declining 20dMA which is at 59c today.

Golden Agriculture closed at 55c on the back of lower volume, forming a doji in the process.  It was unable to break a down trending resistance line.  MACD is above zero and MFI formed a higher low, indicating positive momentum and a stronger buying momentum.  However, these are lagging indicators and in a situation where the trend is weak or short lived, they must be treated with care.  The target remains at 59c in the event that immediate resistance is taken out.  The rising 100dMA is still rising and if the price should retreat closer to this level once more, I will buy more.

Healthway Medical's trading volume expanded slightly as it formed a gravestone doji, closing half a cent higher at 15.5c.  MACD seems poised to cross the signal line and zero at the same time, more or less.  This is a very bullish sign.  MFI has moved decisively out of the oversold territory and has more room to move up.  If volume expands meaningfully with a continuing push upwards in price, we could probably see price pushing 17.5c and even retest the previous high of 18.5c.