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Connecting the highs of 3 and 17 January gives us a trendline resistance. We could see $2.00 tested next if the bouyant price action follows through. It also remains to be seen if $1.93 is resistance turned support. I am monitoring this counter as I get ready to divest some.
Related post:
Capitamalls Asia: Broke out of downtrend but still at resistance.
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6 comments:
Hi AK,
I closed my position at 1.96 today, no more :) From the weekly, there seems to be more oomph to go, but it had been rising up for the past few sessions, so I might be entering it upon retracement, around 1.91. I think 1.99/2.00 is the next hurdle to clear.
Gd luck in your divestment!
Hi LP,
Yup, I would do a divestment at $2.00, if tested. Would be a nice trade, if successful.
The $1.83 low held up when retested on 31 Jan. Looks like a probable double bottom formation. So, I would also consider buying more at supports again. ;)
how come so many people into this CMA. i only had 2 lots in 1.87
Drizzt
Investment Moats.com
Hi Drizzt,
Why are you in CMA? Would you like to share your views? ;)
hi AK71, purely opportunistic position, not for yield or anything. looks like it touched 2 bucks.
Hi Drizzt,
I divested half of my position at $2 today. I have almost completed a very detailed blog post on CMA's technicals. I will put it up later tonight. :)
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