Mapletree Logistics Trust: Double Bottom
Published On: 20 May 2024, 10:00 AM | Alex Lee, Assistant Manager, Dealing
Key Entry Price Pivot(s):
- $1.29
- Long at $1.33
- Stop Loss at $1.29
- Take Profit at $1.51
- Short at $1.29
- Stop Loss at $1.33
- Take Profit at $1.20
- Looking at the daily chart of Mapletree Logistics Trust, we can see that price has rejected the low and formed a double bottom with significant volume thereby presenting an opportunity for going long.
- We may see price extending towards the next resistance level at $1.49.
- An alternative case is presented in the event of a breakout towards the short side.
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