Tea with AK71: Some of my stuff (Part 3).

No prizes for guessing how many years I've had this mug for. ;-)

I still remember buying this when I was in Secondary 4. 

It was a small luxury for me in those days as a student. It was also the first time I had my own mug at home. I would only use this mug from that day on. 

Of course, over the years, I accumulated another few mugs but this is still my first love. ;-p

A beautiful full moon tonight. I took a shot with my IXUS from my balcony. I guess this is the best I could do with the zoom and all. I am feeling somewhat nostalgic tonight. Growing old.

Related posts:
Some of my stuff (Part 1).
Some of my stuff (Part 2).

CapitaMalls Asia: Quiet resilience.

In generally weak conditions, CapitaMalls Asia's share price has shown a quiet resilience. It closed at $1.70 in the last session, down by only 1c, after being sold down to as low as $1.67. Volume was relatively light. This is important if we compare the volume to that of 6 May 2011 when price reached a low of $1.65 which saw trading volume many times higher.

This tells me that sellers are less enthusiastic now and that, perhaps, all the ones who want to sell at the current prices have sold. The MACD is closing in on the signal line in negative territory. Could we see a positive crossover and a rebound in price soon?

The MFI and RSI are both in oversold territory while the RSI has formed a higher low. Going long at $1.68 could be a good idea. Immediate resistance is provided by a confluence of the 20d and 50dMA at $1.76.

A stronger resistance is at $1.82 which is where we find the declining 100dMA although we could see price going above it if past experience is anything to go by. A breakout on higher volume could just make that happen.

Related post:
CapitaMalls Asia: A reversal signal.