Oversold office REITs find short-term floor

KEPPEL REIT ($1.15) - Decline encounters support

- Initial downside of $1.09 has almost been attained

- Quarterly momentum is turning up from an oversold low

- Prices are likely to stage a temporary rebound towards $1.19

CAPITALAND COMMERCIAL TRUT ($1.47) - Short-term oversold

- Worst of the decline could be over

- Break below $1.555 indicated target of $1.43

- Initial rebound when it materialises needs to get above $1.555 if any strength is to return

OUE COMMERCIAL REIT (70.5 cents) - Establishes lower trading range

- No clear trend for this counter

- Counter was listed at 80 cents

- Recovery is unlikely in the near term

FRASERS COMMERCIAL TRUST ($1.535) - Upclimb could be completed

- Counter has gained relative strength against its peers

- Quarterly momentum has formed a series of negative divergences

- Technical indicators suggest that largest gains are over

MAPLETREE COMMERICAL TRUST ($1.44) - Short-term weakness

- Prices may be under some short-term selling pressure

- Prices have just broken below minor support at $1.45

- Break above $1.45 in the next two sessions would invalidate decline towards $1.37

SUNTEC REIT ($1.715) - Could move into a range

- Directional movement has peaked and turned down

- Downside of $1.61 has been indicated when prices broke below $1.725

- Immediate resistance is at $1.76

- Prices could retreat to retest $1.68 in order to establish the bottom of a base

(Source:  TheEdgeSingapore July 27 2015)