ARA: Divestment at $1.30 and $1.32.

I have been entering overnight sell orders for ARA at $1.30 since early this month. $1.30 was the price I last sold some ARA at. As I noticed some strength in the upward movement in price, I also put in a sell order at $1.32 last night. Both sell orders at $1.30 and $1.32 were filled today.

Price touched a high of $1.33 today before closing at $1.315. Volume was relatively low compared to 3 sessions ago when price action formed a similar white candle. I wonder if it would have enough fuel to push it past the next resistance at $1.335.

Immediate support is at $1.29 but I expect a stronger support to be at $1.25 in case of a retracement. $1.25 is also where a golden cross is likely to be formed with the 20dMA rising to cross the gradually declining 100dMA. A golden cross was earlier formed between the 20d and 50d MAs.

CapitaMalls Asia: Overcame resistance.

CapitaMalls Asia is rising and stronger than Capitaland too.

Its share price overcame resistance provided by the 20wMA.

Resistance provided by the 138.2% Fibo line at $1.32 is the one to watch now. Could we see a retest of $1.40, the high touched in early November 2011?

The 20wMA could be resistance turned support in the event of a weakening in price. This is at approximately $1.26.

Related post:
CapitaMalls Asia: 20wMA, the resistance to watch.