FSL Trust: Sold some at 47c.

I shared on 21 Dec that I had an eventual target of 47c for FSL Trust, saying that it would close the gap at 46c which it did on 23 Dec. Gap resistance was later taken out on 29 Dec. As price opened at 47c today, my overnight sell queue was partially filled. Could we see the 21 Oct high of 48.5c tested next?

With the MFI and RSI both in overbought regions, further upside from the current level could prove difficult. Although momentum is clearly positive as suggested by the rising MACD in positive territory, the light trading volumes as price rose suggest a lack of sellers and not an abundance of buyers. Sustainability is in question.

In a benign situation, I expect gap resistance at 46c to become support in the near term. This is further strengthened by the uptrend support line. Technically, the worst seems to be over for FSL Trust and a retest of resistance at 48.5c looks likely in time.

Related post:
FSL Trust: Closing the gap soon?

AIMS AMP Capital Industrial REIT: Rising MACD.

The MACD on this chart has stopped declining.  In fact, it seems to be rising gently, forming higher lows. Higher lows were spotted earlier on in the MFI which suggests firm underlying demand.

The rising 200dMA is at 21c and this, in my opinion, would provide very strong support. Immediate support is at 21.5c while immediate resistance is at 22c.  The downtrend line connecting the highs of 17 Sep and 19 Nov suggests that strong resistance is to be found at 22.5c in the current timeframe.

A quick check on the weekly chart confirms strong support to be at 21c and that the longer term trend is up. I bought more today at 22c and would continue to accummulate on weakness.

Related post:
AIMS AMP Capital Industrial REIT: High yield with limited downside.