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.

Friday, March 25, 2011

CapitaMalls Asia's price action is most pleasing today. Momentum oscillators are all rising strongly, suggesting strong demand and accumulation. Volume has been rising for 3 days in a row as price moved higher.

I have said earlier that the former support at $1.83 would become the resistance to watch if price were to move higher. This is still valid. In fact, the declining 50dMA is approximating $1.83 as well. However, I decided to draw some Fibo retracement lines as well as to use Fibo fan lines to see if they agree on this. I hardly use fan lines although I had experimented with them many moons ago.


It is interesting that the Fibo fan lines suggest $1.80 (61.8%) as a strong resistance while the Fibo retracement lines suggest that $1.81 (50%) is a strong resistance. So, in the event of a continuation of upward movement in price, if these resistance levels are strong enough, we might not even see $1.83.

So, what would I do? I would queue to divest partially at $1.80 as a hedge. If $1.83 were to be tested, I would divest again. Good luck to fellow shareholders.

Related post:
CapitaMalls Asia: Downtrend broken.

0 comments:

Monthly Popular Posts

 
 
Bloggy Award