Capitaland has been on a nice up trend since Mid May and exhibit on a nice Elliott Wave pattern. Currently Capitaland has reached its NAV (P/B = 1.0008) and its PE ratio show that Capitaland is at its fair value and no longer under value. Base on Fibonacci Extension to 161.8% FR, the price target is $3.60. Currently Capitaland has hit the uptrend channel resistance and also the Fibonacci Fan resistance. Expect a pull back from this level in the few days. Capitaland has been the lucky star for me as I have profited 3x trading this Elliott Wave pattern (all bullish trades). A pat on the back!
- $2.65 to $2.96
- $3.18 to $3.25
- $3.32 to $3.45
Will wait for the pull back to $3.32 (up trend channel support & 123.6% FR) to decide whether I have the 4th ...
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