Trade of the Day – Keppel DC REIT (SGX: AJBU) March 8, 2023 311
Trade of the Day
Keppel DC REIT (SGX: AJBU)
(Current Price: S$2.01) – TECHNICAL BUY
Buy price: S$2.01 Stop loss: S$1.96 Take profit: S$2.12
The price has broken out of a bullish falling wedge pattern after a pullback from the uptrend channel resistance, with a bullish engulfing candlestick formed on 7 March following a backtest of the breakout. We could see continuation of the uptrend to retest the recent resistance at the S$2.12 swing high level, which is also confluent with the uptrend channel resistance.
Expected timeline of the trade is 2-4 weeks from the date of report issuance.
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Featuring regular TA posts and requests to analyse specific stocksAbout the author
Zane Aw
Technical Analyst
PSR
I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).