LMIR: Testing resistance.

LMIR has risen on declining volume. MACD is rising in negative territory and the MFI continues to rise towards 50%. Without a significant expansion in volume as price pushes higher, it will be hard to overcome immediate resistance at 47c.  In the event that 47c is taken out, there is a band of resistance provided by a cluster of MAs from 47.5c to 48.5c.  Upside seems limited which might explain the lack of enthusiasm from market participants in adding to their long positions here.

I would like to accumulate units in LMIR again but will wait to see how things unfold.

AIMS AMP Capital Industrial REIT: Weakness.

I have been waiting to buy back some units in AIMS AMP Capital Industrial REIT. Price formed a gravestone doji at 21.5c today. The MACD is declining towards zero.  The OBV is also declining, suggesting some distribution is ongoing.  The MFI is still rising suggesting positive buying momentum but matching that against price action, we see that the price has not been rising as enthusiastically.  A rising MFI with price unchanged is not positive and suggests weakness.

I might get my wish to accumulate again at the support of the trading range.

SPH: A floor or a base?

Remembering the recent lesson learnt from FSL Trust, I should not anticipate but wait for clearer signs of basing or a reversal before adding to my long positions.  It would seem that SPH is basing with $3.68 as a many times tested support.  However, we cannot be sure until price stays above the 20dMA and confirms the MA as support.  This is a stringent requirement.  $3.68 might just be a floor.

That the MACD has made a bullish crossover with the signal line is not persuasive as it is still in negative territory which means what we see might just be a rebound before price continues to move lower.  As MFI moves up, the share price has stayed more or less stagnant, testing the support at $3.68.  This is not a good sign.  I see immediate resistance at $3.80 in case of a continuing move in price upwards while immediate support remains at $3.68.