Office REITs to stay resilient despite consolidation

CAPITALAND COMMERCIAL TRUST ($1.60) - Facing resistance

- Prices broke below 50 day moving average and support at $1.57

- Indicators are moving in different directions

- Upturns are unlikely to sustain a break above resistance at $1.60

FRASERS COMMERCIAL TRUST ($1.395) - Unsustainable rebound

- Prices have bounce off their 50 day moving average

- Any further price rebound is likely to encounter resistance at $1.45

- Break above this level may not be sustained

- Support is at $1.37

KEPPEL REIT ($1.115) - Easier phase ahead

- A selloff was evident on Oct 19

- Volatility is likely to be low with prices moving into sideway range

- Support is at $1.08

- Resistance is at $1.15

MAPLETREE COMMERCIAL TRUST ($1.545) - Uptrend gives way

- Prices are likely to be in a corrective phase

- Prices broke below 50 day moving average and support at $1.55

- $1.55 likely to act as resistance

- Support is at $1.50

SUNTEC REIT ($1.73) - Could strengthen

- Counter is in a slightly different cycle from other REITs in the sector

- Counter is showing signs of strength

- Prices should be able to rebound to the top of the range at $1.80

- Support is at $1.70

OUE COMMERCIAL REIT (71 cents) - Set to ease

- Upside is likely to be limited to around 72 cents

- More likely, prices are set to ease towards 66 cents

- Quarterly momentum has been largely flat

- Break below equilibrium line would confirm a price decline

(Source:  TheEdgeSingapore October 24 2016)

Negative news prompts base formations

SINGAPORE POST ($1.52) - Emerges from base formation

-  Volume expansion accompanying white candle days is a positive sign

- Immediate resistance is at $1.58 and successful break would indicate target of $1.80

- Technical indicators indicate that upside is attainable

- Support is at $1.50

SINGAPORE TELECOMMUNICATIONS ($4.02) - Lacklustre outlook

- Indicators suggest that prices may stay within a trading range

- Moving averages are pointing in different directions

- All these are indications of continued range bound trading

- Resistance is at $4.06 and near term support is at $3.87

M1 ($2.39) - Strong oversold position

- Quarterly momentum continues to fall

- A couple of indicators point to a rebound off very oversold positions

- Prices have hovered around $2.40 establishing it as a minor resistance

- Support is at $2.35

STARHUB ($3.49) - Possible base formation

- Prices are attempting to form a bottom

- Short term indicators suggest a minor recovery

- Resistance appears at $3.50

SUPER GROUP (87.5 cents) - Short-term consolidation likely

- Price surge on Oct 5 is likely to be followed by a consolidation

- Consolidation could see prices ease towards 85 cents

- Next breakout level is at 90 cents and resistance appears at 95.5 cents

NOBLE GROUP (19.1 cents) - Signs of recovery

-  The chart pattern indicates a reverse head and should pattern

- The top of the base is at 18.1 cents

- A successful break indicates an upside of 24.5 cents

- Support is at 16.6ents

(Source:  TheEdgeSingapore October 10 2016)

Some developers bukc the sector's swoon

CITY DEVELOPMENTS ($9.11) - Could face resistance

- Resistance is at $9.24

- Likelihood of a strong uptrend developing is low

- Prices have managed to hold on to the rising 50 day moving average at $8.79, the new support level

HONGKONG LAND (US$7.05) - Upmove underway

- Prices broke above resistance level indicating target of US$7.80

- There are no signs of a breakdown

- In the absence of that, retreats should find support at US$6.90 with upside looking attainable

WHEELOCK PROPERTIES ($1.49) - Poised for upmove

- Counter could start to strengthen

- Resistance appears at $1.55

- Successful break would indicate upside of $1.65

- Support is at $1.45

CAPITALAND ($3.22) - Challenging resistance

- Prices are approaching four time tested $3.24 level

- This area provides significant resistance

- For now though, prices will probably not be able to breakout

- Support has been established at $3.06

YANLORD LAND GROUP ($1.415) - Established uptrend

- This has been one of the better performing property counters

- Now, the uptrend could start to accelerate

- There is an initial target of $1.60

- Support is at $1.35

FRASERS CENTREPOINT ($1.49) - Short-term oversold

- Counter formed a trough in mid September at $1.47 which should be viewed as support

- Resistance is likely to be at $1.51 to $1.52 range

- Prices have to form a base before any sustained recovery is possible

(Source:  TheEdgeSingapore October 3 2016)