In this blog post, I shall provide pictures of technical analysis in the form of 6-months candlestick graph charts and technical lines. I intentionally stripped away the moving averages, bollinger band, MACD, resistance lines and stochastic indicator to simplify my analysis. Only support lines will be drawn since the stock market is currently bearish.
AIMSAMP-REIT
A total of 4 support lines are identified in the graph chart. They are current and previous lows achieved by the price movement for the past 6 months. Thanks to the US debt crisis, AIMSAMP-REIT has breached 3 support lines for the past 2 weeks and is currently resting on the $0.205 support line. I believe $0.195 is a very strong support line given that the sell volume is very high in comparison to the buy volume. There could be a chance for the price to breach the $0.195 support line next week. I am keeping a close watch on it.
First REIT
First REIT has breached a number of support lines since the market turned bearish 2 weeks ago. The sell volume is shockingly high and that could explain why the price fell from the high of $0.84 last month to the current $0.76. If market turbulence continues next week, we could see its price breaching $0.735 support line. As for $0.71 and $0.7 support lines, the chance of breaching them is getting less obvious due to the increased buy volume on Friday. I am hoping to accumulate shares on First REIT if its price reaches $0.74 or $0.735.
Starhill Global REIT
There was a moment where Starhill went all the way down to the lowest support price level of $0.585. I believe it won't happen again, should buy volume stabilise next week. I believe the price could still test $0.605 support line. I am looking to accumulate a small volume of shares if its price fall to my expected level.
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