Shares & Derivatives
CapitaMalls Asia: Rebounding.
By A Singaporean Stockmarket Investor (ASSI)  •  August 30, 2011
At this point in time, the recent upmove of CapitaMalls Asia's share price is still a rebound. The MACD made a bullish crossover with the signal line but momentum is still negative. Make no mistake. The downtrend is still intact.
Volume has been declining over the last three sessions. How do we interpret this?
Although the bears were roughed up three sessions ago, bulls seem to lack conviction in following through. We can only wait and see if they do in the next session. For now, bears are staying sidelined, nursing their wounds, while bulls remain somewhat cautious.
Price touched a high of $1.375 in the last session which coincides with the resistance presented by the 50dMA. Overcoming this resistance could see gap fill at $1.395 and that is where I have put in my next sell order.
If we look at the orange line I have drawn, ...
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By A Singaporean Stockmarket Investor (ASSI)
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