Suntec Reit today went ex.dividend of 2.75 cents but the price dropped more than the declared dividend . Last Fri the closing price was at $1.58 . Today closing price is $1.53 ( down more than 5 cents). This is rather quite negative.
A long black candle stick is being present . The current price is now slightly below both 20SMA & 25SMA. This could be rather bearish.
The rent for CBD area is expected to be lower due to many are moving out to a cheaper and much newer building. Short term wise the rental revenue will not be good. This may be the reason why prices dropped more than the dividend.
With this selling down, the price may go down to re-visit the previous low of $1.495.
Breaking down of $1.495 may trend lower towards $1.425.
(trade base on your own decision)
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