Ascendas Reit was stuck in a range between 3.19-3.28 for the past 4 weeks with RSI dipping below 50 (ie lack of strength). Today RSI finally began to move above 50 with the formation of a very bullish candle that started at the bottom of the range to the top all in one day.
Long @ 3.29-3.30 (as it breaks above the top of the range) with initial stop a few ticks below the range @ 3.17. Looking to scale out partial @ 3.48 and eventually @ 3.65 (trail stops up as trade goes our way).
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Long @ 3.29-3.30 (as it breaks above the top of the range) with initial stop a few ticks below the range @ 3.17. Looking to scale out partial @ 3.48 and eventually @ 3.65 (trail stops up as trade goes our way).
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.