Evening one and all,

I have a chart of Lippo-Mapletree Indonesia Retail Trust for this evening.

First off, I like the general uptrend  in LMIR’s chart ever since the second half of 2010. This is depicted by the upward parallel channel you will see below. Price is hovering at the bottom of the channel, so that is an opportunity for bulls. I like this channel, and see no reason for price to go down below the channel. Contrast this with the parallel channels that have been broken in two other REITS – Cambridge Industrial Trust and MapletreeLog. I was bullish on most REITS at the beginning of the year, after seeing nice uptrends on charts. I am disappointed with how some of their charts are making me drop my bullish stance on them. I do hope this is not the general outlook for all the REITS.

Anyway, LMIR has withstood the recent selling pressure, and is finding support at the bottom of the channel. The 200-day MA is coming up from 51 cents territory, which should provide strnger support for the channel if it continues on its slight upward move. I have an upward target of 60 cents for Lippo-Mapletree based on the top of the parallel channel. Let us see how this goes.

All analyses, recommendations, discussions and other information herein are published for general information. Readers should not rely solely on the information published on this blog and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.


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