REITs overextended, largest gains over

ASCENDAS REIT ($2.70) - Short-term peak

- Prices could correct below their 50 day moving average at $2.63

- Support appears at $2.54

- Resistance is at $2.86

FRASERS CNETREPOINT TRUST ($2.25) - Maturing uptrend

- Prices have just broken out of minor resistance setting target of $2.40

- Upturn started in 2009 and prices have quadrupled suggesting largest gains are over

FRASERS COMMERCIAL TRUST ($1.48) - Fatigue sets in

- There are signs of fatigue

- Prices may formed a minor peak at $1.54

- Support appears at $1.40

MAPLETREE COMMERCIAL TRUST ($1.385) - Facing resistance

- Main uptrend is intact

- Resistance has been established at $1.44

- Prices could stay range-bound for some time

- Support has been established at $1.25

STARHILL GLOBAL REIT (92.5 cents) - Breaks out

- Prices have broken out of resistance at 90 cents

- Break indicates target of $1.05

- Support is at 90 cents

SUNTEC REIT ($1.94) - Short term overstretched

- Upsurge from break is likely to turn to retreat soon

- Support for any retreat is at $1.82

- Earlier break indicates a target of $1.98

(Source:  TheEdgeSingapore April 22, 2013)