– Pacific Shipping Trust (PST) has been stuck in a sideways trend over the last 12 months.

– While we observed a shallow gradient for the ascending trend line along with the formation of higher lows since June 06, we have not witnessed any new highs above S$0.465.

– However, as the 50-day moving average has fallen below the 100-day moving average and seems close to cutting the 200-day moving average, coupled with the downwards trending stochastic indicator, this could spell more downside for PST.

– Nevertheless, we expect the price to bottom out around the trend line and the support at S$0.415, and stage a strong rebound thereafter, with the share price heading towards the resistance set at S$0.465.