Mapletree Logistics Trust (SGX: M44U) upside seems limited as the stock failed to break the immediate psychological resistance level of $2.00, as per our bullish report on 17th of June 2020. Technicals indicate further correction ahead, we are switching our bullish stance turning bearish, albeit modestly.
*Timeline of the trade should be between 1-3 weeks from the date issued.
* The trust remain bullish as prices is trending above both the 50 and 200-day period moving average. As such, if the price reverse higher within the next 2 consecutive period, the immediate resistance level is at $2.03.
Red dotted line = 200 periods Moving average
Blue dotted line = 50 periods Moving average
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