Shares & Derivatives
CapitaMalls Asia: Pre-emptive strikes failed.
By A Singaporean Stockmarket Investor (ASSI)  •  August 15, 2011
Quite a few regular readers and friends are perplexed why I was buying shares in CapitaMalls Asia when it is clearly in a persistent downtrend. I replied that I was pre-empting a possible reversal as it looked like a positive divergence could emerge. Today, that possibility went out the window as the MACD formed a lower low as price weakened.
So, the technical reason I had for buying more shares in CapitaMalls Asia is no longer valid and I will not add to my long position anymore until the picture changes. Will I cut loss? I will only do so in a rebound. I will not do so as price goes lower. That has been my practice. Prices rarely go up or down in a straight line. They climb a wall of worries and go down a river of hope. With CapitaMalls Asia, a rebound in share price could see gap ......
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By A Singaporean Stockmarket Investor (ASSI)
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