REITs can't swim against the tide

ASCENDAS REIT ($2) – Testing support
- Prices are likely to move sideways and at worst they could fall
- Support is near $2
- Resistance is at $2.07
- An eventual breakdown indicates a target of $1.75

CDL HOSPITALITY TRUSTS ($2.04) – Testing resistance
- Showing signs of technical weakness
- Low ADX suggests that even if prices breakdown it is likely to be a weak one
- Break below $2.04 indicates a target of $1.91

PARKWAY LIFE REIT ($1.81) – Losing momentum
- Support is at $1.77. Break below this level points to target of $1.66
- Resistance is at current levels

CACHE LOGISTICS TRUST (95.5 cents) – Testing top of base formation
- Prices are at resistance at 96 cents
- Support is at 94 cents
- Break above resistance indicates at target of $1.01

FIRST REIT (78 cents) – Uptrend intact
- Support is at 76 cents
- Resistance is at 80 cents
- Successful break indicates a target of 90 cents

MAPLETREE LOGISTICS TRUST (91 cents) – Likely to ease
- Resistance is at current levels
- Support is at 84 cents
- Break below support indicates at target of 72 cents

(Source: TheEdgeSingapore June 13 2011)