Capitaland's share price touched a high of $2.66 and closed at $2.65. Remember that I mentioned that in very bullish circumstances we could see $2.65 or even $2.75 tested? This is still valid.
I did a partial divestment at $2.65 today. If the following week should see price pushing higher, I would be happy to divest once more. $2.75? It could happen although I see the declining 200dMA now at $2.73. This could limit further appreciation in price. Although bulls could push past this resistance, it would surprise me (pleasantly) if price could close above the 200dMA. Why do I say this?
Look at the trading volume. It has been reducing. Indeed, volume is also lower this week as compared to last week. Volume is the fuel that drives rallies and reducing volume could be an early signal of coming weakness in price. ......