Trade of The Day – Technical Pulse: Mapletree Logistics Trust January 11, 2023 124

Mapletree Logistics Trust (SGX: M44U)

(Current Price: S$1.63) – TECHNICAL BUY

Buy price: S$1.63     Stop loss: S$1.60     Take profit: S$1.75  

 

The price has consolidated in a triangle, we could see follow through of the bullish momentum prior should price breakout of this consolidation phase. The Moving Average Convergence Divergence (MACD) technical indicator is also displaying bullish momentum with a bullish crossover recently. The price could reach the S$1.75 level which is confluent with a previous swing high, by taking the height of the consolidation triangle projected onto the breakout point.

 

Expected timeline of the trade is 1-2 weeks from the date of report issuance.

Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!

Featuring regular TA posts and requests to analyse specific stocks
Click to join!
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

About the author

Profile photo of Zane Aw

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).

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!