Shares & Derivatives
CapitaMalls Asia: Pulling back to supports.
By A Singaporean Stockmarket Investor (ASSI)  •  April 12, 2011

If we draw a trendline connecting the high of 6 Oct 2010 and 9 Feb 2011, we will get a trendline resistance which, more or less, was what limited the upside yesterday at $1.92. A doji formed yesterday suggesting indecision and a possible reversal. We have confirmation today as price closed lower at $1.85.


Immediate support is found at $1.83. Not only is this where the trendline support is approximating, it is also where we find many times tested resistance and supports in the candlesticks. If $1.83 were to give way, next supports are at $1.80 (50dMA) and $1.76 (rising 20dMA).

What would I do? I like what I see in the ADX. The +DI has the advantage and the ADX is rising. This could be an early uptrend forming. MACD is still rising in positive territory. Volume in the last two sessions were ......
Read the full article
By A Singaporean Stockmarket Investor (ASSI)
Have a more secure financial future in an uncertain world by creating a stream of reliable passive income with high yields.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance