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CapitaMalls Asia: Rising on low volume.

Tuesday, December 28, 2010

CapitaMalls Asia closed closed at $1.91 today, up 2c. The MACD's bullish crossover is following through as it continues rising above the signal line. Being still in negative territory, this could just be a rebound. However, the higher lows on the MFI and RSI suggest firm underlying demand and buying momentum.

Immediate resistance is at $1.92 which is where the declining 20dMA is approximating.  If this is taken out convincingly, next resistance level is at $1.95 followed by the downtrend resistance at $1.97. Closing above $1.97 would break the current downtrend. Support at $1.83 has been established.

Related post:
CapitaMalls Asia: Reversal?


ming said...


Would you like to link blogs with me? Would like to learn more from an experienced investor like you and exchange views on various stock counters. :)


CL said...

capitalmall also. :)

AK71 said...

Hi Ming,

For some time now, I would do link exchange with blogs which are at least 6 months old and regularly updated. So, if you are still actively blogging over the next half a year, please let me know and I would be happy to do a link exchange.

Thanks for the proposal and I look forward to your next comment. :)

AK71 said...

Hi CL,

Do you mean CMT? I am not vested in that counter. If you have made some gains, I am happy for you. :D

CL said...

yup cmt. :) was wondering if you are updating your blog today, hehe.

Kay said...

Hi AK,
With regards to CapitaMall, perhaps you'd like to check out my TA at

Would appreciate any comments you have seeing that you're a more experience investor than yours truly.

Hope you're having a spiffy festive season AK.


AK71 said...

Hi CL,

Haha.. Sorry to keep you in suspense. I was wondering if I would be blogging as well as I had a dinner appointment. After that, I spent an hour doing some other work. Also been rather stressed lately. Need a break or two ... or three. ;)

AK71 said...

Hi Kay,

One thing I learn about TA is that no one is correct or wrong. It depends on which tools we use and how we do the interpretation. Anyway, signals could fail. ;p

You could be right about the double bottom for CMT. However, we won't know it is a double bottom until it is able to move past its neckline which looks like it's just under $2.

A higher low on the MACD is promising. However look at the MFI which is a measure of demand, the lower highs formed over the longer term do not inspire confidence. Downtrend is still intact for now.

Anyway, with such low yields, I am hardly interested in CMT. I echo your sentiments. :)

Hubert wee said...

I'm vested in Capitamall at 1.87..I'm vested not for the yield, but for the capital appreciation..the yield would be a bonus.

AK71 said...

Hi Hubert,

I guess you are referring to CMT. Good luck. :)

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