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Capitaland: Going even higher?

Saturday, April 9, 2011

Capitaland's share price formed a long white candle as price closed at $3.50 in the last session. Guess what. The technicals look similar to those of CapitaMalls Asia. Since I suspect that CapitaMalls Asia's share price could go higher, the same suspicion would apply to Capitaland's share price.


+DI is rising and ADX has flattened. MACD is rising strongly in positive territory. OBV suggests strong accumulation is going on. MFI is bordering overbought. RSI is high in overbought territory. Volume has lowered since 29 March when price tested the trendline support but it is higher than the low of 17 March. Uptrend support is intact but a pull back in the near term is possible.

With immediate resistance at $3.54 (100dMA) and a possible whipsaw to $3.56 (gap resistance and 50% Fibo fan line), the near term upside could be limited from the current level. Support is at $3.41 in the next couple of sessions. This is a natural candlestick support and it coincides with the trendline support. A retest of support could see me initiating a long position in this counter.

2 comments:

Png said...

Hi AK71,

I've stumbled onto your blog while searching for 'dividends' related questions. I have a general question which is not related to your Capitaland posting, hope you don't mind me intruding your post! ;p

I've previously receive a letter from Cambridge requesting investors to declare their wish to receive dividends in scrip rather in cash. I didn't took any action for that letter so it defaults to paying in cash for the dividends.

But now, I change my mind and would like to compound my holdings using those scrips. Do I still have a change to do that now? If so, how can I go about changing that?

An additional question, do you think it is better to receive dividends in scrip to 'compound' the investment or simply take in cash?

Thanks!

AK71 said...

Hi Png,

Hope you have enjoyed your accidental visit to my blog thus far. ;)

If you wish to receive scrip dividends now instead of cash, just contact the manager of the REIT. I am sure they would be happy to help you with the necessary.

What do I think? If you are investing for income, taking dividends in cash makes more sense. If you are investing for growth (believing that the investment is of the growth type), taking dividends in scrip makes sense.

The only company I have ever accepted scrip dividends for was Healthway Medical, which is supposedly a growth company. ;)

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