After my previous 2 successful stints in Mapletree Industrial Trust (5% Gain in 1 day) and Frasers Logistics & Commercial Trust (+10% Gain in 1 week), I became greedier.
In what could possibly be my last purchase during Covid-19 sales, I identified Aims Apac Reit (SGX: O5RU) as a value and income play. It is currently the largest holding in my portfolio which already pays me more than $8k of dividends and I decided to add more and placed buy orders at $1.13 - 1.15 today but none get filled as the price inched up instead.
Stagnated and converging sideways after 2 waves of rebounds to land above the 61.8% Fibonacci retracement level of $1.13 from the peak of $1.45 for close to a month, its 20 days MA is closing in on the 50 days MA. If it crosses, the share price may attempt to reach the next intermediate resistance at $1.25, which is at the 38.2% Fibonacci retracement level.
The William%R is at the brink of breaching -80, still indicating oversold status. The last time when its William%R breaches -80 was in mid Mar 2020 when the share price hits $0.90, indicating severely oversold status and the best time to buy.
As Aims Apac Reit will be announcing its Q4 2020 results on 12 May 2020, I think this may be the catalyst to fuel its rebound off the current support. I am happy to hold on to my existing investment at yielding close to 10% for $0.10 annual dividends based on an average holding cost of $1.06 and look forward to participate in the next Dividend Reinvestment Plan.
Thanks for Reading! I will be sharing my opinion on the 10 Best Reits in Singapore soon. Stay tuned!
Love & Peace,
Qiongster
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