REITs steady as penny stocks falter

ASCENDAS REI ($1.89) – Uptrend intact
- Price resistance is at the $1.95
- Break above $1.95 would indicate a target of $2.15

CAPITACOMMERCIAL TRUST ($1.13) – Challenging resistance
- Resistance appearing at $1.15 level
- A break would indicate a target of $1.28

CAPITAMALL TRUST ($1.73) – Temporary pullback
- Prices reached a high of $1.84 in September
- Break above $1.75 would indicate a target of $2.18

FRASERS CENTREPOINT TRUST ($1.23) – Sideways phase
- Resistance is at $1.29
- Prices are likely to move sideways

STARHILL GLOBAL REIT (52.5 cents ) – Downturn
- Prices have turned down breaking support at 60 cents
- Decline to support at 40 cents looks likely

SUNTEC REIT ($1.30) – Start of sideways trend
- Support likely to appear at $1.23
- Resistance is at $1.34

(Source: TheEdgeSingapore 30 November 2009)