Technical outlook – Over this month, BWP Trust (BWP) has held to an impressive bullish trend which emanates from $3.90 to a peak of $4.33. Since the peak, the bears have returned and is likely to see many more gathers this week.
Technically, (BWP) is expected to continue to play-out the bearish tunes this week with the foreseeable target holding to $3.99 before the technical signals fully mature to support a potential buy call.
Company Overview – BWP Trust (BWP) is a listed managed investment scheme which invests in commercial real estate throughout Australia. The majority of its properties are Bunnings Warehouse properties tenanted by Bunnings Group Limited, a wholly-owned subsidiary of Wesfarmers Limited. The BWP Trust is managed by the unlisted responsible entity, BWP Management Limited. Former Names: Bunnings Warehouse Property Trust (BWP), 12/04/2011.