Here is our blog’s M44U Elliott Wave Analysis & Forecast for the 26th of June 2022.
Currently, Mapletree Logistics Trust (M44U) has a YTD return of -12.2%.
Statistically speaking, the outlook for REITS might seem dim due to the rising interest rate environment.
But it also presents the opportunity to accumulate an excellent REIT at a better price for the longer term investor.
My M44U Elliott Wave Analysis seems to indicate that it may potentially be poised for a rebound.
I am viewing the current correction as an (A)(B)(C) 5-3-5 Zig Zag structure in Cyan for a Wave 4 In White.
M44U has dropped into my Dollar Cost Averaging zone which is range zone bounded by highly confluence Fibonacci retracement and extension levels.
See dotted circles.
The 5 wave sequence for the (C) leg in Cyan looks to have completed and SGX:M44U share price seems to have rebounded quite strongly in the last couple of sessions.
Although I would have “Preferred” that price dropped a tat lower and make another leg down so that the 1X1 Gann Fan might provide additional support.
But as retail traders what we “Wish” or “Want” is insignificant, the current price action is the most important.
If price breaks higher and retrace above the upper Fibo zone, I will look to add on to my current positions.
Kindly note that this is not financial advice, just my humble opinion on Mapletree Logistics Trust.
Please DYODD ( Do Your Own Due Diligence ) before taking any trades.
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