Mapletree Logistics Trust (SGX: M44U): Bullish momentum came to an end on 21st February after the counter entered a 5-subwave corrective wave of ‘A’ after the rebound took place on 23rd March 2020. Based on the technicals, the incoming sell down of the trust will take the form of the following:
*Timeline of the trade should be between 1-3 weeks from the date issued.
*Should price rebound at 1.60 or 1.49, there is a strong possibility that price might rebound and test 88.6% retracement level of wave C. Also, there is a possibility of the Trust swiftly gap up toward 88.6% of wave A before forming a 5 sub-wave down move.
Red dotted line = 200 SMA
Blue dotted line = 50 SMA
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