Mapletree Commercial Trust: Looks to Resume Uptrend After A Pullback

2016Aug-Mapletree Com Tr-800x449

2016Aug-Mapletree Com Tr-800x449

19/8/16

  • Stock has been on a long term uptrend since 2013 but a correction occurred in 2015 resulting in prices undercutting the 200MA

 

  • MCT found support at the $1.3 level and hovered around the range for months before finally resuming its uptrend in 2016

 

  • Following that, a series of high highs and lows were formed and the stock recently broke above its multi year high.

 

  • In recent weeks, a pullback has occurred but it looks like the stock has found support near its 50MA and looks set to resume its uptrend

 

  • Potential entry at current prices ($1.54-$1.56) with a stop placed below the current swing low of $1.5