Date: September 20, 2024
Broker: CGS International Securities

Overview

The CSOP iEdge SREIT ETF S$ has been highlighted in the report as a strong technical buy, driven by favorable market conditions and bullish price action. The ETF shows a return to its upward trend, supported by technical indicators.

Last Price and Entry Points

• Last Price: 0.833
• Recommended Entry Prices are as follows:
  • 0.833
  • 0.810
  • 0.780

Stop Loss and Support Levels

To protect investors from downside risk, the stop loss is set at 0.760. Additionally, two support levels are identified:

• Support 1: 0.780
• Support 2: 0.720

Resistance Levels and Target Prices

Several resistance levels are observed, guiding the upward potential of the ETF:

• Resistance 1: 0.850
• Resistance 2: 0.950

The target prices are broken into four stages, each providing an opportunity for profit-taking:

• Target Price 1: 0.880
• Target Price 2: 0.920
• Target Price 3: 0.960
• Target Price 4: 0.995

Technical Indicators and Market Sentiment

The technical analysis for CSOP iEdge SREIT ETF S$ indicates several positive developments:

1. The ETF has broken out of a 2-year descending triangle, signaling a strong bull run.
2. A bullish candle formation on Thursday invalidated the previous bearish trend.
3. The ETF is trading above all Ichimoku indicators, confirming three bullish golden crosses.
4. MACD and signal line remain above the zero line, with the histogram indicating positive momentum.
5. The 23-period ROC has risen above the zero line, a sign of continued strength.
6. The Stochastic Oscillator is climbing without an overbought crossover, signaling sustained bullish momentum.
7. The Directional Movement Index confirms the ETF’s ongoing bullish strength.

Conclusion

The CSOP iEdge SREIT ETF S$ is showing strong technical signs of continued bullish momentum. With key indicators pointing to sustained upward movement and carefully outlined target prices, the ETF is poised for further gains, offering traders multiple entry and exit points.