Trade of The Day – Technical Pulse: Prime US REIT January 11, 2023 521
Prime US REIT (SGX: OXMU)
(Current Price: S$0.380) – TECHNICAL BUY
Buy price: S$0.380 Stop loss: S$0.360 Take profit: S$0.445
The price found support at the downtrend channel trendline support. We could see a relief bounce to retest the $0.445 previous swing low support now turned resistance. The $0.445 price level is also confluent with a 50% Fibonacci retracement level using the swing high of $0.525 and swing low of $0.360 as points of reference.
Expected timeline of the trade is 1-2 weeks from the date of report issuance.
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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).