I bought today after watching for awhile for an entry, finally got my stochastic 20% buy, very suprised at MOF overall, better value in my opinion than most reits I follow.
NTA of 49c, paying dividends at 3.75cps, gearing 36.9% (book), look through value 46.9% (not many reits give this figure). Quite suprised at current SP. With the rising trendline today was a good entry IMO with the touch on the 20% 5,3,3 slow stochastic sig. DMS took a swing up, RSI well in the zone, good volume.
I wouldn't call it a morning star though on the chart as the second day didn't open lower than the first which is needed for both morning star and morning star doji, though its 'close' to a morning star doji given the third day bodies closing price.
Trendline, stochastic, rsi, dms etc is what I find most appealing and the FA indicating good support with solid NTA and insto backing, paying divvies, I concur on the ST price 35-37c as a reasonable price point minimum value as is IMO, higher if factor in revaluation gains as other reits seem to be anticipating on price movements towards end of year. No need to talk up the stock though seems the trend is doing it itself as ticks along nicely. :)
MOF Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
