Ascendas REIT (SGX: A17U) strong sell off from 3.48-2.22 signify a strong bearish impulse move and the rebound on the 23rd is more of a correction and based on the technical, the REIT’s bullish rebound is coming to an end:
The 50 SMA is curving downwards towards the flattening 200 SMA and should that happens, the potential death cross will signify a confirmation of a continuation bearish sentiment.
*Timeline of the trade should be between 1-3 weeks from the date issued.
Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!
Featuring regular TA posts and requests to analyse specific stocks