Trade of The Day – Technical Pulse: Mapletree Pan Asia Commercial Trust January 5, 2023 319
Mapletree Pan Asia Commercial Trust (SGX: N2IU)
(Current Price: S$1.68) – TECHNICAL BUY
Buy price: $1.68 Stop loss: S$1.64 Take profit: S$1.78
The price broke out of a bullish cup & handle formation after breaking out of a downtrend channel previously, which provides a bullish signal. The Moving Average Convergence Divergence (MACD) technical indicator also registered a bullish crossover recently, with momentum increasing currently. We are likely to see follow through of the bullish momentum to retest the horizontal neckline resistance at S$1.78.
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 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).