Testing Support – AmanahRaya REITs (5127)
AmanahRaya REITs (ARREIT) has seen a successful sell pressure test on RM0.305, which is the key support level. We see a potential trend reversal (as represented by the chart below) as the MACD shows a divergence, which could lead to re-test RM0.320 (R1) and RM0.330 (R2) over the short term. Our short term target for ARREIT remains at RM0.330, which provides an approximate 10% upside from its current level.
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