SuntecReit Technical Analysis (24 Jan 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 be the worse time to buy and best time to sell in my opinion. I am not saying my analysis is accurate but the price did fall from $1.42 to $1.34 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 has increased from $1.10. If the price never reaches $1.10, then I will not buy at all.