Shares & Derivatives
Stock Chart: Capitaland, Midas!
By Dou  •  March 19, 2011

On Friday, Capitaland re-test the support at $3.11 and closed at $3.14 with HIGH volume of 15.4 million shares traded.

A long upper shadow occurred.  This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

Both RSI & MACD are turning flat as RSI trend sideway.

Important Resistance of Capitaland: $3.25

Immediate Support of Capitaland: $3.11

Currently prices are resisted by 20 days MA.

The support at $3.11 seems to be holding well for Capitaland as bull attempted to push the prices higher using this as a base.

However due to the recent trend of Capitaland especially when China just announce the tightening of bank reserves, it is not recommend for entry now.

We would prefer to see $3.25 resistance breached with high volume to boost investor’s confidence ...

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By Dou
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