CapComm Trust - Break out above ascending triangle

Recent months saw a rebound in strength for REITs and blue-chip counters. While I am not sure how long this rebound might last, opportunity still arise whenever there is buying/ selling interests. Chart below shows the rebound of CapComm Trust rebound from its low region in 1.3x back to 1.6x level.

A further break out from its ascending triangle to move above 1.635 resistance shown continued interest in the counter. This break out presents good opportunity to entry as price has not yet run. Price movement breaks out of ascending triangle with long green candle. Stochastic move higher to cross back above its signal line. MACD firming in positive region and is moving back up towards its signal line. Crossing above the MACD signal will reaffirm the continued strength of the uptrend.

While price moves higher, keep a look out for profit taking. As long as price is supported by its 20 EMA upside will be firming intact. Set tight cut loss @ 1.560 (-5%).

Enjoy. Remember to share when you have profited.