Date of Report: 26 September 2024
Broker: UOB Kay Hian

Overview

Parkway Life Real Estate Investment Trust (PREIT SP) is highlighted as a compelling Trading Buy in the report, with a recommendation to buy within the range of S$4.07 to S$4.08. The current price at the time of the report is S$4.08, with a target price of S$4.46, signaling potential upside.

Uptrend Momentum

The price of Parkway Life REIT is currently trading above the cloud, indicating that the uptrend remains intact. Technical indicators such as the conversion line are acting as the first layer of support, reinforcing the stock’s bullish outlook.

Technical Indicators

The MACD (Moving Average Convergence Divergence) is strong and bullish, further supporting the likelihood of upward price movement. With these indicators aligning, the odds of the stock price testing the target price of S$4.46 are favorable.

Risk Management and Stop-Loss Strategy

The report suggests placing protective stop-loss at S$3.99 to limit downside risks. This is part of a disciplined trading approach, should market conditions reverse.

Timeframe

The approximate timeframe for the stock to reach its target is 1-2 weeks, provided the stock enters the recommended buy range within three trading days.

Institutional Research Insight

UOB Kay Hian’s institutional research team maintains a fundamental BUY rating on Parkway Life REIT, with a higher long-term target price of S$5.07, reflecting strong confidence in the stock’s growth potential.