Thu, May 17, 2012, 3:43 AM SGT - Singapore Markets open in 5 hrs 17 mins

MIDCAP-Singapore's Cache Logistics could reverse - technicals

Reuters – Fri, Feb 24, 2012 4:47 PM SGT

Singapore's Cache Logistics Trust is trading near overbought levels and technical charts point to a reversal.

The stock is trading at its resistance level of S$1.01, a new 52-week high. The REIT has been range-bound and trading in the S$1.01-S$0.91 band since late 2010.

Its Williams %R indicator, a momentum tool measuring overbought and oversold levels, is at 0. A level above 80 indicates oversold levels, while a reading below 20 suggests overbought levels.

The stock has also touched its upper Bollinger band, indicating overbought levels. A break above the resistance level could push the stock higher to S$1.08 levels.

For a technical view: http://link.reuters.com/wep76s (Reporting by Rajesh Chandnani; Editing by Sunil Nair)

 

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Symbol Price Change % Chg 
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