CapitaMalls Asia: Support at $1.88 gave way.

The immediate support at $1.88 gave way today as price closed at $1.87. I have a faint suspicion that on top of a lack of buying interest, there were also people who did not want to hold on to a long position over the weekend. Whatever it could be, price weakness was on the back of similar volume as the session before. A sell down without heavy volume but a sell down nonetheless.

The MACD has completed a bearish crossover with the signal line and dipped into negative territory. The MFI and RSI both dipped below 50%. My long positions taken at $1.92 and $1.88 are underwater. A retest of the low of $1.83 is not improbable. What would I do? Add to my position?

I would add to my position only if the support at $1.83 holds up . If that support breaks, using a few sets of Fibo lines, the next major support could be at $1.70 and that is some way to fall.

Related post:
CapitaMalls Asia: Full year FY2010 results.