Technical Pulse: Link REIT February 10, 2021 361


Link REIT (HKEX: 823) upside is considered as a corrective action for the stronger bearish downtrend since June 2019. As such, we consider the larger corrective channel as an ongoing bearish flag:


  1. With the larger corrective channel/flag, prices has broken out of the smaller rising wedge (in dotted lines) after the formation of the rounding top.
  2. Ichimoku is showing a 3 bearish death cross signal (In order: Tenkan-Sen and Kijun-Sen death cross follow by Chikou-span breaking below the candles) and despite the candles are within the cloud, the Kumo bearish twist signals a final turn in trend as the last signal for the 3 bearish death cross.
  3. The stock is anticipating to break below the resistance turned support zone between HKD$66.00-HKD$67.11. Once it breaks, the bearish downside will increase.
  4. The support zone at HKD$60.89-HKD$61.98 confluence with the base of the channel, offering an attractive price zone for accumulation.


*Timeline of the trade is 4 weeks from the date issued.

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