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".

Pageviews since Dec'09

Recent Comments

ASSI's Guest bloggers

CapitaMalls Asia: More upside after gap cover?

Tuesday, March 1, 2011

Some may wonder why CapitaMalls Asia seems to be suffering from malaise even as Capitaland's share price recovered almost 3% today. A quick look at the chart and the answer is obvious. Gap resistance is found at $1.75 and the counter closed the gap today. What now?


The MACD histogram has turned green. With the MACD still in negative territory, a green histogram probably indicates a short term bullish bias. The MFI has dipped into oversold territory while the RSI is upturning in oversold territory. Even if the price does not recover in a hurry, the technicals hint that any downside could be limited for now.

Immediate support has been established at $1.69, the low of 28 Feb while immediate resistance remains at $1.75, beyond which, resistance could be found at $1.83 (a twice tested support turned resistance) and $1.88 (downtrend resistance and declining 20dMA).

Related post:
CapitaMalls Asia: Another failed reversal signal.

0 comments:

Monthly Popular Posts

 
 
Bloggy Award