Trade of The Day – Technical Pulse: Mapletree Logistics Trust January 11, 2023 302
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.
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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).