Capitaland: Going even higher?

Capitaland's share price formed a long white candle as price closed at $3.50 in the last session. Guess what. The technicals look similar to those of CapitaMalls Asia. Since I suspect that CapitaMalls Asia's share price could go higher, the same suspicion would apply to Capitaland's share price.

+DI is rising and ADX has flattened. MACD is rising strongly in positive territory. OBV suggests strong accumulation is going on. MFI is bordering overbought. RSI is high in overbought territory. Volume has lowered since 29 March when price tested the trendline support but it is higher than the low of 17 March. Uptrend support is intact but a pull back in the near term is possible.

With immediate resistance at $3.54 (100dMA) and a possible whipsaw to $3.56 (gap resistance and 50% Fibo fan line), the near term upside could be limited from the current level. Support is at $3.41 in the next couple of sessions. This is a natural candlestick support and it coincides with the trendline support. A retest of support could see me initiating a long position in this counter.

Tea with AK71: Cornettos and Magnums.

I love ice cream. I have always enjoyed Cornettos and Magnums but I enjoyed them even more when I was in Thailand. Look at the photos and you would know why:

10 Thai Baht is about 40c in Singapore currency. So? We could have a really nice Cornetto for less than 90c!

And we could have a yummy Magnum (regular size type) for $1.60!

Burp!