Mapletree Industrial Trust (SGX: ME8U) Potential breakout of a consolidation triangle to retest the downtrend channel resistance at S$2.58:   

1. The price has consolidated in a triangle and has been forming higher lows recently, a bullish signal for a potential breakout.
2. The Moving Average Convergence Divergence (MACD) technical indicator is currently displaying a bullish momentum with the sustained crossover of the MACD line over the Signal line, while remaining above the zero line.
3. The price could retest the S$2.58 level in the resistance zone of S$2.58-2.68, confluent with a previous swing high formed in September 2022 and the downtrend channel resistance, by taking the height of the consolidation triangle (S$0.26) projected onto the breakout point.

*Expected timeline of the trade is 13 weeks from the date of report issuance.

CHART LEGEND

Red box = Resistance zone

Green box = Support zone