Similar to Capitaland, I am still waiting for a technical rebound in the share price of CapitaMalls Asia before reducing exposure. The counter is dreadfully oversold and a technical rebound is probably overdue. However, in extremely bearish circumstances, a counter could stay oversold for a very long time. As always, a huge dose of luck is required.
Today, I bought more shares of CapitaMalls Asia at $1.37 per share. Why? Is there a positive divergence? Nope. So, why am I buying when there is no reversal signal?
The same reason why I bought more shares in Capitaland and if you remember, price went lower the next day. So, will price move lower tomorrow for CapitaMalls Asia? Your guess is as good as mine.
From the ADX, it is obvious that CapitaMalls Asia is in a downtrend and the trend is strengthening too. If we look at the MACD, it is set to form a ......
