On Friday, Capitaland continue to trend downwards and closed at $3.67 with regular volume of 15.6 million shares traded.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Both RSI & MACD are bullish as MACD just perform a “golden cross” recently.
Important Resistance of Capitaland: $3.71
Immediate Support of Capitaland: $3.64
Currently prices are resisted by technical/20 days MA at $3.71
Capitaland has been very bearish as it trend downwards on a falling channel.
In fact, investors are already selling off these shares on Friday due to fear on the interest rate move by Beijing.
Do watch if any consolidation at $3.64 before entry though my target entry price is $3.50 and below.
On Friday, Golden Agri re-tests the resistance at $0….