Saizen REIT: Something is brewing?

While chatting in Bully the Bear's cbox, I shared my observation that a certain substantial shareholder seems to be tightening their grip on Saizen REIT.  In fact, they were just accorded two non-executive directorships on the board.  Saizen REIT also gained a CO-CEO, Mr. Koh.  Our dear Mr. Chang is now a CO-CEO too.  Power sharing.  Interesting.  What could be afoot?

Technically, Saizen REIT seems to have turned somewhat bullish although it is early days yet.  The MACD has turned up as the histogram turned green. The MFI is still in oversold territory but it is turning up, possibly forming a double bottom.  The OBV has turned up sharply, suggesting a return of accumulation activities.

Related post:
Saizen REIT: More insider moves.

MIIF: Breakout.

There was a sudden rush to accumulate units in MIIF today as volume expanded and price touched a high of 56.5c before closing at 55.5c.  The many times tested resistance of 53c could possibly be the new support. This needs confirmation.  In case of a breakdown, the 50dMA would be a crucial MA to watch as it served as support very nicely before pushing the price up.

The MACD which was declining until two sessions ago has turned up, completing a bullish crossover. A rising MFI with higher lows shows rising demand and a rising OBV shows accumulation. None of the momentum oscillators are overbought and we could see price go higher if the volume continues to expand.  We could even see a retest of the 12 months high of 58c.  Good luck to fellow unit holders.

Genting SP: Flip flop.

As I was advising caution on Genting SP, some analysts are turning cautious on Genting SP as well, it seems.

Genting Singapore off 1.1%; Gaming demand slows: UOB. UOB KayHian, which has Hold call with $1.59 target, says its own checks show gaming activity at Resorts World Sentosa over July-August points to noticeably weaker 3Q10 vs 2Q10, with traffic in August affected by “hungry ghost” month.
Thursday, 02 September 2010

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Genting Singapore down 2.2%; Overbought: DBS Vickers.
Thursday, 02 September 2010

© 2010 - The Edge Singapore

Related post:
Genting SP: An amazing run.

Genting SP: An amazing run.

Genting SP has amazed me with its continuing upward move in price. Many punters must have made good money here.  Congratulations!

Volume has expanded for three straight sessions as price pushed higher.  The volume, although higher, is not dramatically so and there is, therefore, a suggestion that price could be rising from a lack of sellers and not because of an abundance of buyers. The MFI has just joined the RSI in overbought territory and the risk of going long at this point in time is surely higher. OBV shows consistent accumulation and it seems that the party could continue for a bit more but when would it come to an end as all parties do? No one knows and I would advise caution.

Related post:
Genting SP: Twin spinning tops.

Genting Singapore rises to record on earnings outlook
Wednesday, 01 September 2010

© 2010 - The Edge Singapore