SEE:Sabana REIT's NTP+ mall to open in 2Q2021
Technically too, the moving averages turned positive in early Feb, just as prices moved to 36 cents. Resistance appears at 46-47 cents, the trading range of the stock pre-Covid. Long-term investors however, can remain invested in Sabana REIT if they opt to take up the distribution reinvestment plan, which was first introduced in 2014 where units are issued usually at a 2% discount to the prevailing price.
Singapore Press Holdings is up 73% since the start of the year, and closing in on $2. At end-Dec, the stock was just above $1. While technical indicators continue to rise, and there are as yet no signs of a downturn by the short term indicators, 21-day RSI is just shy of 82, which is at least a two year high. At any rate, some traders may be interested in locking in profits.
See also: Straits Times Index shows signs of decoupling from the US by outperforming
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The Straits Times Index’s quarterly momentum is struggling. In addition, short term stochastics and 21-day RSI are falling. This is despite the 17 point price rise week-on-week, of which a 16 point gain took place on April 16. In the immediate term, the STI’s range may narrow further, from 3,150-3,220, to 3,200-3220. The uptrend could resume towards the end of April. The original break above the narrow 3,071 to 3,118 range in the week of Mar 15-19 still remains valid as does the upside of 3,368 to 3,377.
