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What an amazing run up Capitaland's share price had in the last session. That the run up was accompanied by huge volume is good news for bulls. Short sellers were probably scrambling to cover their positions in the last session, surprised by the buying strength.
Anyone who added to their long positions or initiated one in the last few sessions would be wise to search for exit points, if they have not done so already. Why? Make no mistake, Capitaland's share price is still in a downtrend. Only if it were to break out of resistance provided by the declining 100dMA in a convincing manner could we say that the downtrend is broken.
Resistance provided by the declining 100dMA? Divest at resistance? In a downtrend, that would be conventional wisdom and something I would do.
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2 comments:
hi AK,
For once i wish you are wrong. I bought more Capitaland end July : )
BTW, i noticed that your blog page has changed. Did any reader commented that they are unable to view the "shortcut window" for comments / posts (right hand side)? I am facing this problem.
KM
Hi KM,
The only person who is always right is Mr. Market. ;)
I am only right when I am on the same side with Mr. Market. Haha..
As for my blog, I tweaked it a bit by shifting my blog roll to the left and the "recent posts" section to the right. I think this looks better.
You are right about the "recent posts" and "recent comments" widgets. Sometimes, they don't work. Unfortunately, I can't do anything about that. This morning, they are working again. ;)
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