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CapitaMalls Asia: Bouncing off $1.88 support.

Monday, February 14, 2011

In my last blog post on this counter, I said "Next support? $1.88. This is quite obvious from the candlesticks and also a gentler trendline support using the lows of 20 Dec 2010 and 1 Feb 2011."

Today, my overnight buy queue was filled as price touched a low of $1.88 before closing unchanged at $1.91. A doji was formed and it is a possible reversal signal. If the signal is valid, we should have confirmation tomorrow and price should move higher.



Immediate support at $1.88 while immediate upside target is $2.00. Could be a good trade.

Related post:
CapitaMalls Asia: Reloaded at $1.92.

4 comments:

mark said...

AIMS!

AK71 said...

Hi Mark,

Haha.. I hear you. I also received quite a few emails on the subject. ;)

Isaac said...

AK,
what a beautiful MACD bullish divergence happened when it went down to 1.83. shud have bought it then. SIGH!!!

AK71 said...

Hi Isaac,

Buying at supports now that the downtrend is broken sounds good enough for you, no? ;)

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