Base on current daily & weekly chart, City Development is showing bearish signal on 2/5 EMA. A Double Tops pattern is formed on Daily chart and currently CityDev is just sitting on the neckline of about $11.45 (currently forming a Bear Flag). Breaking down from this neckline will send CityDev to the target price of about $11.00 which is also the 61.8% Fibonacci Retracement Level & 50D SMA. On Weekly chart, a Evening Doji Star candlestick pattern was formed which is also the trend reversal pattern. Current chart pattern presents a good opportunity to short CityDev.
Key Statistics for CIT
| Current P/E Ratio (ttm) | 18.1201 |
|---|---|
| Estimated P/E (12/2012 ) | 17.3788 |
| Earnings Per Share (SGD) (ttm) | 0.6330 |
| Est. EPS (SGD) (12/2012) | 0.6600 |
| Est. PEG Ratio | - |
| Market Cap (M SGD) | 10,429.69 |
| Shares Outstanding (M) | 909.30 |
| ... |
