REITs slump as QE fades

ASCENDAS REIT ($2.39) - Retreat picks up steam
- Prices broke below neckline at $2.61 indicating initial target of $2.35
- Support is at $2.25
- Prices are likely to experience a temporary rebound
- Resistance is at $2.52

AIMS AMP CAPITAL INDUSTRIAL REIT ($1.63) - Building a top
- Counter is building a top
- Prices have just broken down of neckline at $1.70
- Break indicates target of $1.45
- Any rebound is likely to find resistance at $1.70

CAMBRIDGE INDUSTRIAL TRUST (74.5 cents) - Breaks down from top
- Prices have broken below top formation at 83 cents
- Target of 63 cents
- Rebounds are likely to be tepid
- Resistance is at 78 cents

CACHE LOGISTICS TRUST ($1.29) - Short-term bounce
- Prices are in process of building a top
- Prices have dipped below neckline at $1.34
- Eventual low is likely to be around $1.17

MAPLETREE LOGISTICS TRUST ($1.195) - Also building a top
- Prices are in top formation and just moved below 50 day moving average
- Immediate support is at $1.23
- Breakdown indicates target of $1.07

SABANA SHARIAH COMPLIANT INDUSTRIAL REIT ($1.235) - Trend turns down
- Neckline of a larger top formation has just been breached
- Prices are likely to move progressively lower
- Break below $1.26 indicates downside of $1.08

(Source:  TheEdgeSingapore June 3 2013)