Keppel DC REIT (SGX: AJBU) price failed to break the neckline resistance zone as stated in our previous buy call report on 17^th May. Prices peaked at $2.69. The subsequent sell-off has set off a strong downside momentum:

1. The descending triangle formation is indicative of a strong bearish continuation pattern. Furthermore, the lack of a strong rally after 17^th May indicate weak buying. The support zone is being tested multiple times after the upside failed to create higher highs.
2. The bearish death cross is in effect as prices have been trending below all three major moving averages.

*Timeline of the trade is 4 weeks from the date issued.

CHART LEGENDS

Moving average

Red dotted line = 200 periods Moving Average

Blue dotted line = 50 periods Moving Average

Green dotted line = 22 periods Moving Average