Saizen REIT: Bought more at 16c.

Saizen REIT touched a low of 15.5c today.  As my investment in Saizen REIT is for the long term, I took a look at the weekly chart for clues.

The rising 50wMA is at 15.3c and should be at 15.5c next week. That there is buying interest in this REIT is seen in the higher high formed in the MFI and the upmove in the OBV.  The declining 100wMA should be at 16.5c next week.

Price could remain trapped between the support provided by the 50wMA and the resistance provided by the 100wMA in the near future without affecting the uptrend.

The Bollinger bands are narrowing. A couple of golden crosses seem to be in the works. An impending positive move in price is not an unreasonable expectation and is consistent with the REIT's improving fundamentals. Today, I bought more at 16c.

AIMS AMP Capital Industrial REIT: 20.5c.

Bought more units of AIMS AMP Capital Industrial REIT today at 20.5c.  It has been rangebound between 20.5c to 23c for months now.  So, buying at 20.5c, the support of the trading range seems fairly safe. 

However, the technicals suggest further weakness.  The MACD has plunged further into negative territory as price formed a gravestone doji. MFI has dipped into the oversold region after forming lower highs. OBV is declining slightly. Further weakness could see 19.5c tested, the low in Dec 09.

A quick look at the weekly chart shows a range from 20c to 23c as suggested by the Bollinger bands. So, although further weakness cannot be discounted, the downside seems limited.