Do online contribution to Medisave and get $88 Ang Bao.

"For those under 65, the Basic Healthcare Sum next year will be S$54,500, up from S$52,000 previously, the authorities said." Sou...

Past blog posts now load week by week. The old style created a problem for some as the system would load 50 blog posts each time. Hope the new style is better. Search archives in box below.


"E-book" by AK

Second "e-book".

Another free "e-book".

Pageviews since Dec'09


Recent Comments

ASSI's Guest bloggers

CapitaMalls Asia: Broke out of downtrend but still at resistance.

Saturday, February 5, 2011

A white spinning top was formed on low volume in the last session. Closing at $1.93 is exactly at resistance provided by the declining 50dMA as identified in my last blog post on the counter.

The MACD has just completed a bullish crossover with the signal line but it is still in negative territory. Could we see it crossing into positive territory soon? The MFI's uptrend is intact as the trendline support was tested again. We will need to see price or volume (or both) improving in the next session to send the MFI bouncing higher.

Although the bias is for price to weaken, in case of a breakout, the next resistance levels to watch are the high of $1.97 touched on 17 Jan, $2.00 candlestick resistance and $2.04 which is likely to be a strong resistance as that is where the declining 100dMA would approximate soon. Price could also go higher because it has, once again, broken out of its downtrend, although on low volume.

Fundamentally strong but technically weak, taking profit as the counter experiences a rebound could be a good idea. I would reduce by selling some as resistance levels are tested and keep the rest just in case price does go higher.

Related post:
CapitaMalls Asia: Testing resistance.


Monthly Popular Posts

Bloggy Award