K-REIT: In retreat.

The overbought buying momentum in K-REIT was corrected today as the RSI slipped out of overbought territory.  OBV shows that the trend of accumulation is intact and the MFI still shows rather strong demand.  So?  I won't be overly concerned with the selling down.

Immediate support is at $1.26 which is where we find the 20dMA.  Any further selling should find the next support level at $1.22, the top of a consolidation formation and this is also where we find the 50dMA approximating.  If $1.22 should give, which could, of course, happen, the next support is at $1.16.

Related post:
K-REIT: Moving into the next band?

Saizen REIT: Cheaper please.

Quite recently, in LP's cbox, I mentioned that I was watching Saizen REIT like a hawk, believing that there would be some people who would lose patience and sell down their stakes. Today, it happened and I was waiting at 15c.  Buying at 15c is similar to what we would have paid for Saizen REIT last year in December.

Saizen REIT was sold down heavily, most of it at 15.5c, today for whatever reason. The lack of interest by the market at large in this counter is quite obvious as the MACD has been hugging the signal line. At below zero, the momentum is clearly negative.  The MFI has been forming lower highs, a sign of flagging demand. RSI shows a slowing of buying momentum. 16c could possibly be a strong resistance now as that is where all the MAs are approximating.

The annual report would be out soon and I would take some time to go through it but I doubt I would find anything unexpected.  Value is what we get and price is what we pay.  If Mr. Market is willing to sell to me an undervalued stock at a lower price, I would graciously (or greedily) accept.