Sponsored Links

To retire by age 45, start with a plan.

"Is early retirement the right financial choice?" Jim Ellis discusses long-term financial growth strategies. I have blogged a...

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.

Archives

"E-book" by AK

Second "e-book".

Another free "e-book".

Pageviews since Dec'09

FOLLOW AK ON FACEBOOK.

Recent Comments

ASSI's Guest bloggers

CapitaMalls Asia: Moving higher?

Tuesday, February 15, 2011

In a sea of red, CapitaMalls Asia is one of few counters which gained in today's session. The company will release its financial results for the full year ended 31 December 2010 on Thursday, 17 February 2011 before trading hours. I am hopeful that results would be positive.


Connecting the lows of 31 Jan and 14 Feb gives us an uptrend support and price traded above this support today. $1.95 is a minor resistance and I expect it to be taken out if volume were to expand in the next session. The momentum oscillators are showing positive signs and there is a nice chance of price moving higher.

The longer term downtrend is still intact and if we connect the highs of 11 Dec 09 and 7 Oct 10, it is amply clear. Multiple resistance levels must be overcome for this counter to move much higher in price but none as foreboding as this long term downtrend resistance line.

What am I going to do? I will wait for the results on Thursday and see how things turn out. My exposure to this counter are at the prices of $1.85 to $1.92.

Related post:
CapitaMalls Asia: Bouncing off $1.88 support.

0 comments:

Monthly Popular Posts

 
 
Bloggy Award