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SGX: SuntecReit - 10 March 2008
From the years 2005 to late 2006, price has been resisted on the Resistance Line only able to peak at about $1.30. Subsequently, a price breakout occurred at the beginning of 4th quarter 2006.For the years 2007 and beyond, we see a downward price channel for the coming months ahead. We predict that the Resistance Line that covers the years 2005-2006 could be a support line for the coming months ahead.Meaning to say that the downward price movements would be supported by the Resistance Line formed in the years 2005-2006Once a breakout occurs on the resistance line of the downward price channel, it could repeat an upward trend again. To confirm that a break out has happened, compare it with volume, making sure that volume traded is increasing as well.
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