Mapletree Industrial Trust in Ascending Triangle Consolidation
$Mapletree Ind Tr(ME8U.SI) has been in a downward trend since mid-2022, but recent price action from mid-2025 onward shows a consolidation within an ascending triangle pattern—a bullish signal if resistance is broken.
Price is currently around $2.01, sitting on the triangle’s uptrend line, with resistance at $2.08–2.17 and major support at $1.85. Short-term moving averages (20, 40, 50-day) are converging and flat, signaling indecision, while the long-term 200-day MA remains above the price, pointing to persistent downside risk.
A breakout above $2.08–2.17 on strong volume would mark a bullish reversal and could target the next resistance zone near $2.25–2.35. On the downside, a break below $2.01, especially $1.85, would negate the triangle pattern and likely lead to further declines. Volume remains moderate, without clear signs of strong accumulation.
The ascending triangle is approaching its apex, so a decisive move is likely soon. Investors should await confirmation before positioning aggressively, as long-term bearish momentum has not been fully reversed by current price action.
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Modify on 2025-08-22 10:06
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- MartinBrown·2025-08-20Waiting for breakout1Report
- Porter Harry·2025-08-20Thanks for sharing!1Report