*This is an updated report from 12^th July.

Ascendas REIT (SGX: A17U) met our price expectations based on our 12^th of July report. However, the bullish trend is facing some resistance.  We believe the REIT is entering into a corrective phase based on the technicals below:  

1. Evening Star Formation at the resistance level of 3.20.
2. RSI bearish divergence.
3. RSI Showing strong oversold above 60 overbought line.

CHART LEGENDS

Relative Strength Index

Period =14

Red line = 60 Overbought Line

Green line = 40 Oversold Line