Ascott Residence Trust (SGX: HMN) has been on a roller coaster recovery phase with strong bullish upside on May 2020 and early November 2020. Based on the wave and technical analysis, Ascott is heading for one more round of downside correction before an upside rally to form wave ((C)).
*Timeline of the trade is 4 weeks from the date issued.
* Strategy play, long entrants may look out for potential reversal signals at the support zone $0.85-$0.88
Red dotted line = 200-day moving average
Blue dotted line = 50-day moving average
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