Follow the data growth for the future!
$KEPPEL DC REIT(AJBU.SI)$Bearish
Forward-looking title for this post but unfortunately, $KEPPEL DC REIT(AJBU.SI)$is on a downtrend now. [Sad]
*Price Action*
50, 150 and 200 day moving averages are falling plus today's price of $1.9 is at a support level ($1.89-1.9), as seen in first plot.
The current price shown by red dotted line coincides with sideways price movement in May and June '22 at this level. If you look back to Oct to Dec '19 (second plot), there is a similar sideways movement at this resistance level, which may mean $1.89-1.9 is a strong support now.
Next Support: If this supports breaks, the next level of support may be $1.85. This was a recent low on 16-18th June '22 (See first plot).
Third Support: Looking at price action back in 2019, a subsequent support if $1.85 breaks is $1.78. See third plot. I hope the price doesn't go down any further than this. [Look back]
*Relative Strength Index*
RSI indicator is trending down and heading to oversold territory but not quite yet (See first plot). RSI 6-day time frame is 16.6 and <15 is considered oversold. Therefore, any more weakness is the share price might indicate good entry for Keppel DC REIT.
*Fundamentals*
The dividend yield is 5.25%, which is almost 2x Singapore Savings Bonds interest rate of 2.75% for next month.
PE ratio is reasonable at 10.17 and compares well to sector average of 29.
Target price from DBS is $2.4 which is 26% upside from here.
Headwinds are higher utilities rate and interest rate, but interest rate exposure is limited with 76% of loans hedged through floating-to-fixed interest rate swaps.
If you believe in digital growth and that data is the future, this pure play data centre REIT may be your choice.
@MillionaireTiger@TigerStars@TigerEvents
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[Cry]