Trade of The Day – Technical Pulse: Mapletree Logistics Trust January 11, 2023 428

Mapletree Logistics Trust (SGX: M44U)

(Current Price: S$1.63) – TECHNICAL BUY

Buy price: S$1.63     Stop loss: S$1.60     Take profit: S$1.75  

 

The price has consolidated in a triangle, we could see follow through of the bullish momentum prior should price breakout of this consolidation phase. The Moving Average Convergence Divergence (MACD) technical indicator is also displaying bullish momentum with a bullish crossover recently. The price could reach the S$1.75 level which is confluent with a previous swing high, by taking the height of the consolidation triangle projected onto the breakout point.

 

Expected timeline of the trade is 1-2 weeks from the date of report issuance.

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About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst
PSR

I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).

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