Company Overview On SUNTEC

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TECHNICAL OVERVIEW

As per yearly charts, we can see that the stock is trading in a Self defined range, and currently it is trading near the higher end of the trading range, and will find a near resistance around the 2.00 level. But if able to break that level can test the new yearly high.

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OVERALL VIEW

In May, Suntec REIT has completed the private placement of 111.1m new units, the proceeds will mainly be used to fund potential acquisition in Australia. While operational weakness is expected to persist in near term, the turnaround is expected in 2020, post completion of its projects.

The stock is trading between the range of 1.980 and 1.790 if we analyze it on a mid to long term period. Currently trading near to a very strong resistance point If one wishes to trade in this stock with mid or long view then either enter above the 2.000 level or else wait for the price near support of 1.790 to enter. But if it falls below the support of 1.790 then one should wait for next support level.

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