I bought more shares of CapitaMalls Asia today at $1.91 as its share price retreated to test its support at $1.90. I like the picture which is forming which suggests a low volume pull back taking place.
Whether the uptrend support at $1.90 holds up is important for the counter in the near future. If it breaks, the nascent uptrend is in jeopardy and I would turn cautious If it holds up, price could bounce off and move higher. With the rising 20dMA on course to meet the falling 50dMA, expect some volatility but the technicals do have an upward bias for now and a golden cross is in the works.
CapitaMalls Asia: A sustainable reversal?