Shares & Derivatives
Capitaland: Testing support at $3.36.
By A Singaporean Stockmarket Investor (ASSI)  •  April 12, 2011

I initiated a long position in Capitaland today at $3.38 and $3.36. This was after what I said in the last blog post on this counter: "The Fibo Fan connects the low of 17 March and the high of today. Now, what I am interested in are the positions of the golden ratios in the next few sessions. 38.2% would be at $3.38 and 50% would be at $3.32 in the next session. Notice how the 20dMA seems to coincide with the 50% line? This is likely to be a strong support, if tested. In between these two golden ratios, we find the 50dMA, still declining but gently so, at $3.36. This could provide some support as well."


So, am I going to put in another buy queue for tomorrow at $3.32? Nope, looking at the charts at the end of ......
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By A Singaporean Stockmarket Investor (ASSI)
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