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Cache Logistics Trust and CapitaMalls Asia.

Monday, March 21, 2011

Cache Logistics Trust: On a day with lower volume, price could not break out of the downtrend. Instead, a doji, suggesting indecision, was formed.

Could we see price overcoming resistance and test the merged 50d and 100d MAs at 96c? Although the positive divergences are plain to see, we need volume to expand on any move upwards in order to overcome the trend resistance. Immediate support is at 92.5c in case of a pull back.

JP Morgan reduced its holdings on 15 March from 6.97 % To 5.83 % (44,210,000 units to 37,032,000 units).  That's a reduction of 7,178 lots. That was the day the trust touched 91c.

CapitaMalls Asia: No breakout today which obviously means that the downtrend is intact. Immediate support is at $1.66. If that were to break, keep an eye on $1.57. If it were to be retested intact on lower volume, it would be bullish.

A breakout would see immediate resistance at $1.75, $1.78 and, ultimately, $1.83.

Related posts:
Cache Logistics Trust: Positive divergences.
CapitaMalls Asia: At resistance.


Isaac said...


on the weekly, last week CMA formed a hammer. like what you say, if it can hold 1.60...CMA should have found a bottom. will KIV again

AK71 said...

Hi Isaac,

A retest of an intact $1.60 support would be very nice, especially if it should happen on low volume. Yes, KIV. ;)

Anonymous said...

Hi AK,

Any idea on the reason for 21st March sharp drop of CMA from 1.72 to 1.67?.

What is your view/take on that.


AK71 said...

Hi JJ,

Prices don't go up in a straight line. It could be some traders who got their shares at last week's lows locking in their gains. Yesterday's volume was relatively low.

I would keep an eye on support at $1.60 to decide whether to add to my position. Good luck. :)

Anonymous said...

Cache recovered from a low of 915, your target price. Did you buy?

AK71 said...

Hi Anonymous,

You bet! ;)

Cache Logistics Trust: Initiated long position at 91.5c.

Could you include your name or intials in future comments? Thanks. :)

ortho said...

Hi AK71
Today CMA at 1.65 and I am tempted to enter, but yet thinking 1.60 would be a better position. Any view from you after today's trade?

AK71 said...

Hi ortho,

I was in the midst of crafting a blog post for CMA when I saw your comment. Here it is:

CapitaMalls Asia: Low volume retreat.

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