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Capitaland: Weekly chart.

Monday, July 4, 2011

Capitaland seems to be enjoying a respite.

A quick look at the weekly chart suggests that a retest of the declining 20wMA as resistance is likely. It could happen this week or the next couple of weeks.

If I were to hazard a guess, it could be at $3.14 if it should happen as that is also where we see some resistance provided by the candlesticks. However, volume declined in the last couple of weeks. So, this brings into question whether recent strength is sustainable.

Wait and see.


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