SuntecReit Technical Analysis (7 Feb 10)

See it for yourself and make your own judgement. As mentioned in my last analysis two weeks ago, I mentioned that SuntecReit is facing triple resistance. I also mentioned that by looking at the MACD, RSI and Stochastic, it may not be the best time to buy in my opinion. I am not saying my analysis is accurate but the price did fall from $1.34 to $1.25 during the last two weeks. I believe that any uncertainty in the market will trigger another sell down.Please note that I am using TA to position myself for long term investing and not to predict the direction of the market. My target buy price is unchanged at $1.10. If the price never reaches $1.10, then I will not buy at all.