Thursday, June 21, 2012
Fortune Reit: Beautiful chart. One of the rare counters that continue to climb to new multi year highs in today’s session, with its shares +0.7% at HK$4.49. The stock has been hugging the upward sloping 20day MA over the past 6mths, and appears well supported by the 50day MA. May be interesting to keep on the watch list, as it is likely one of the beneficiaries amid continued inflows into defensive sectors. The Street has 9 Buys and 2 Holds with TP ranging btwn HK$4.65 – 5.40. 12mth trailing yield is 5.9%. The co is also listed in HK (code: 778 HK) where trading is more liquid.