Since Japan disaster in March 2011, SuntecReit has dropped from $1.56 to hit an intra-day low of $1.42 on 17th March 2011 but the rebound failed to get pass the multi resistance at $1.56. Ironically, it appears to be forming an ascending triangle formation too. Breaking out of $1.56 with volume amounts to breaking out of ascending triangle formation and projected target of $1.68. While breaking down at $1.41 would void the formation.
