Mapletree Industrial Trust technical notes.
1. Uptrend from 24 March 20 to 12 October 20 - Total about 8 months
2. First mini uptrend break was on 14 Aug 2020.
3. After that, it attempted 3 more tops which all failed. It is a sign of weakness that the bulls are tired.
4. Actual downtrend start on 10 Nov 2020 where it breaks the important sideways neckline.
5. The downtrend ends on 15 Mar 2021 when it acquire data center in Virginia.
6. It hit the first resistance on 15 Apr 2021.
7. 2nd attempt to break resistance failed in 30 Apr 2021.
Current trend looks bullish for MIT.
Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.
Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.
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