Friday 6 December 2013

Suntec REIT potential upside

Looking at Suntec REIT today. In the past year, It was a good trade opportunity if only you took profit after hitting $1.70++ like me. Now the counter has come down to a significant buy level of $1.50
My target is going to be around the $1.90 - $2.00 region. Looking at the graph below, the uptrend line seems to have a strong support. Bearing in mind, in order for the bull run to be intact, it must not drop below the previous low of $1.12


There is also a possibility that it might break the supporting trendline. In which case next support is $1.30 region. If you have been holding for the long run, this might be a good opportunity to buy more into SuntecREIT. Not the forget that the revamped Suntec City Mall and Exhibition halls had opened in Sept this year. Looking forward, Suntec has alot of upside to increading rental returns as they also own some critical/vital property in MBFC.

 

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