Friday, March 16, 2012

Sabana REIT: Resistance to watch.

One month ago, I mentioned that Sabana REIT's unit price saw higher lows formed since August 2011 and that it was repeatedly testing gap resistance at 91c and 91.5c. I wondered then whether its unit price could break resistance to go higher. It did, going on to break resistance at 93.5c, and, in the last few sessions, tested resistance at 95c. It ended the day at 96c a unit with a massive buy up