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Just two days ago, on 17 January, I said that I see resistance at $2.48. I got this from the weekly chart as that was resistance provided by the declining 20wMA and the 138.2% Fibo line.
So, I put in an overnight sell order at $2.48 and it was filled later in the session today.
In very bullish circumstances, we could see $2.50 and $2.53 taken out with ease. With the formation of a long white candle on the back of very high volume, this could indeed be the case. The MACD has just crossed into positive territory and this signals the return of positive buying momentum.
In such an instance, we could see $2.65 or even $2.75 tested. It would be a sight to behold. Remember, however, that TA is about probability. Nothing is for certain.
Relates post:
Capitaland: Resistance at $2.48.
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7 comments:
Up, up and away! :)
divested at $2.54 :)
Hi Ray,
Congratulations! Gong xi gong xi! :D
Hi AK,
Is Kepland in your watchlist?
Any thoughts about this stock?
Hi Ray,
Nope, my plate is full. No space for another property stock on my plate. ;p
Maybe, you could share your analysis of KepLand with us here. FA, TA or both. :)
Now, I am wondering if the week of the Chinese New Year could see share prices going higher. It would be nice to be able to sell more of my shares in Capitaland at $2.65 or even $2.75. Hahaha... ;p
hehe closed at 2.62 today. Hopefully 2.75 is within sight soon!:)
Hi Mr Robotic,
Touched a high of $2.66 today. $2.65 must give convincingly on high volume. Then, we could see $2.75 next. :)
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