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ARREIT is now hovering just above the first major support at RM0.340, a region that has historically attracted accumulation. Beneath this, the next stronger support sits around RM0.315–RM0.325, where a larger cluster of buying interest was seen in March and April.
The broad green accumulation zone in your chart underlines that funds and income-focused investors have historically stepped in at these levels, suggesting that any retracement into this zone would likely be met with stronger demand unless the fundamentals of the REIT materially weaken.
NCT surely looking like it needs to consolidate here before making another run at the highs. Holding this support level would be a good sign for a sustained move upwards.
The MATE condo nearing completion with a premium finish could certainly attract strong buyer interest. It might actually translate into actual news sales velocity and pricing.
