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The market seems unimpressed with CapitaMalls Asia's results. Price tried moving higher, touched a high of $2.18 before declining to close unchanged at $2.16. The MACD is back in positive territory which suggests that we are once again seeing positive momentum in price movement.
Although the rising MFI suggests a strong demand, the OBV has turned flat in the last two sessions which suggests that neither accumulators nor distributors have the upper hand. Therefore, the lower volumes in the last two sessions as the price tried to move higher should be taken as a strong cautionary note.
Having said all these, it is worthwhile noting that price has closed above the 100dMA again even though it's a black candle day. If the 100dMA is confirmed as the new support, price could move higher.
CapitaMalls Asia achieves 1H 2010 net profit of $209.8m
Tuesday, 03 August 2010
Tuesday, 03 August 2010
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