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CapitaMalls Asia: At resistance.

Wednesday, September 7, 2011

While chatting in LP's infamous cbox today, a cboxer, OT, said that he is queueing to sell some shares of CapitaMalls Asia at $1.395 because I said that is where gap filling could happen. That was based on TA which I did more than a week ago.

TA is dynamic. What is valid now might not be valid a week later. So, is this case any different?

Share price touched a high of $1.36 which is where we find resistance provided by a flat 50dMA. It closed at $1.345 which is where we find the declining trendline resistance.

The MACD is rising nicely but it is still in negative territory. Volume although slightly higher is not impressive. This rebound could sputter and fail quite easily.

If both the 50dMA and the trendline resistance could be taken out in the next session, we could indeed see the gap filled at $1.395. If the share price could close above the 50dMA in the next session, we could even see $1.44 tested next. Will it happen?

TA simply hints of what could happen and we must have plans for all possible eventualities.

Related post:
CapitaMalls Asia: Rebounding.


INVS 2.0 said...

Hi AK71,

TA aside, I am very impressed with REITs on the lower end of the dividend hierarchy. That is, REITs like P-Life, CDL Htrust, CapitaMall that pay low dividends but very resistant to economic shocks.

Apart from CapitaMall, another one that caught my attention is P-Life. This stock is rebounding extremely fast despite all the negative sentiments. Maybe that's the beauty of a blue-chipped REIT. :)

AK71 said...

Hi INVS 2.0,

A good pedigree always helps but I am after getting the best returns for my money. ;)

OT83 said...

Hi Ak,

I am honoured to have AK mentioned me in your blog!



AK71 said...

Hi OT,

Simply returning the favour, old chap! Don't mention it. ;)

Hwang said...

AK, i see that you really like CMA as you posted a lot on it.

But comparing ARA and CMA, will you still prefer CMA, or both are quite distinctive thus a comparison is not possible?

AK71 said...

Hi Hwang,

A portion of CMA's business is like ARA's. ARA is more specialised.

CMA is a developer as well. ARA is not. ;)

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