Shares & Derivatives
CapitaMalls Asia: At resistance.
By A Singaporean Stockmarket Investor (ASSI)  •  September 7, 2011
While chatting in LP's infamous cbox today, a cboxer, OT, said that he is queueing to sell some shares of CapitaMalls Asia at $1.395 because I said that is where gap filling could happen. That was based on TA which I did more than a week ago. TA is dynamic. What is valid now might not be valid a week later. So, is this case any different?
Share price touched a high of $1.36 which is where we find resistance provided by a flat 50dMA. It closed at $1.345 which is where we find the declining trendline resistance. The MACD is rising nicely but it is still in negative territory. Volume although slightly higher is not impressive. This rebound could sputter and fail quite easily. If both the 50dMA and the trendline resistance could be taken out in the next session, we could indeed see the gap ......
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By A Singaporean Stockmarket Investor (ASSI)
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