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MIT: Expecting Change of Momentum after Existing Downtrend Line

 




MIT: Expecting Change of Momentum after Existing Downtrend Line

What are we expecting?
Mapletree Industrial Trust (ME8U) broke its key downtrend line on 18 Mar 21, technically signaling positive trend change. Similar to Apr 2020 move.

Momentum Indicator, MACD (bottom of the chart) is displaying a upward sloping momentum which is supportive of the technical move.

Who should be concerned?
Investors: Consider increasing allocation into ME8U under income portfolio, with current indicative yield of 4.50%.

Traders: Taking Long positions with 1st target price at S$2.95, next at S$3.30.Stop Loss below S$2.50.

*Disclaimers apply

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