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.
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