Mapletree Logistic Trust (SGX: M44U) upside is making a return after recent technical indicate potential further upside:

1. Mapletree Logistic Trust has broken above the downtrend line and has been staying above it by making a new high.
2. The larger inverted head and shoulder has been confirmed after prices breaks above $2.02-$2.04 neckline resistance turned support.
3. The bullish candle on Monday has close and rebounded from the neckline resistance turned support. Which also confluence with 61.8% Fibonacci retracement level of $2.20-$1.77.

*Timeline of the trade is 12 weeks from the date issued.

CHART LEGENDS

Moving Averages

Red dotted line = 200 Periods MA

Blue dotted line = 50 periods MA

Green dotted line = 22 periods MA