Shares & Derivatives
CapitaMalls Asia: Strong uptrend emerging.
By A Singaporean Stockmarket Investor (ASSI)  •  April 8, 2011
Despite strong buy calls from research houses, this counter's share price suffered from a prolonged period of weakness. However, recently, a strong uptrend seemed to be emerging for this counter. Refer to the orange color trendline support. Is this a reversal which would propel its share price much higher? Volume in today's session was much lower than the previous day's but price still managed to close higher at $1.88 resistance, touching a high of $1.89 in the day. Rising on low volume is not a good sign usually but if we look at the bigger picture, the overall trend should be given more prominence. Indeed, the ADX seems to be turning up as the +DIs are rising. This is something we have not seen in a while. It suggests that a nascent uptrend could be gaining strength.
The MACD is rising higher in positive territory. The other momentum ......
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By A Singaporean Stockmarket Investor (ASSI)
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