Posted on April 14, 2010 - by AK71

Charts in brief: 12 April 10.

Photo by Leonid Mamchenkov

CapitaMalls Asia: No follow through on what had seemed like a promising up day in the previous session as a wickless black candle was formed today. It is reasonable to assume from today’s action that this counter is trapped in a narrow range between $2.33 and $2.28. When everyone finally tires of looking at the charts, this counter might just surprise on the upside.

Golden Agriculture: A long legged doji. This is a possible reversal signal as price does not seem able to break resistance at 62.5c. However, the MFI has formed a higher low and OBV continues to rise. Golden Agriculture might just try to push higher. Channel resistance is at 64.5c this week.

Saizen REIT: Initial resistance remains at 17.5c. Volumes on down days have been relatively lower and this suggests a strong underlying support. A retest of 18c is still very likely. The descending 100wMA is also at 18c and this is likely to be a strong resistance. Read more…

Related posts:

1. Charts in brief: 16 Jun 2010.
2. April 2010 Portfolio Summary and Review
3. Why Do We Still Need To Read Charts?