Cache Logistics Trust: 1Q FY2011 results.

Higher DPU than forecast: 1.952c.
XD: 3 May.
Payable: 30 May.

NAV/unit: 88c.
Gearing: 26.4%.
Interest cover ratio: 9.5x

See presentation slides here.

The numbers are nice and strong. Although its distribution yield is lower than AIMS AMP Capital Industrial REIT, I believe that it is a premium that is well worth the money.

Looking at the chart, a potential reverse head and shoulders is quite obvious. Of course, I could be counting the chicks before they hatch here. The neckline is at 96c and if the pattern is a valid one, we could see $1.00 tested again. Good luck to fellow unitholders.

First REIT: Climbing the wall.

First REIT's unit price rose and closed at 76c today. It seems to have hit a wall. Looking at the daily chart and the EMAs, it is easy to see why. The 100dEMA is at 76c. EMAs give greater weightage to more recent prices and are useful in identifying shorter term resistance and supports.

Although the +DI is rising strongly and has the advantage and although the ADX seems to have begun rising as well, RSI and Stochastics have gone into overbought territories while the MFI could face resistance as it approaches its 50% line.

So, although there is little downside risk, upside could be capped. If 76c could be overcome successfully, the next resistance level is at 77c, the high achieved in January 2011. This is followed by 78.5c which is resistance provided by the 200dEMA.