Technical Pulse: Frasers Centrepoint Trust October 29, 2021 314

Fraser Centrepoint Trust (SG: J69U) corrective downside is likely coming to a halt after technicals show signs of a bullish recovery:   


  1. The cup and handle formation is likely to be confirmed after Thursday’s break to the upside above the descending triangle downward sloping line and out of the smaller range box (Highlighted in yellow)
  2. Looking at a longer time frame from May 2021 and recent rounding bottom in Mid-September, we observe a potential double bottom forming after prices remain supported above the support zone at S$2.23-S$2.25. Should the neckline resistance at S$2.39-S$2.43 be broken, we see a confirmation of the larger double bottom.
  3. Ichimoku is showing “Three bullish golden” cross, indicating strong bullish confirmation.




*Expected timeline of the trade is 15 weeks from the date of report issuance.




Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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