CAPITALAND
Volume increased over the last session but the bulls were not strong enough to have the share price close above the 50dMA. Closing at $2.52 is where we find resistance provided by the declining 50dMA.
Although price did touch a high of $2.56, forming a white spinning top suggests indecision and is a sign of weakness.
The counter has, in the meantime, broken out of its immediate downtrend. Immediate support is provided by the flat 20dMA at $2.49.
CAPITAMALLS ASIA
CapitaMalls Asia's chart looks more promising. Another white candle was formed today on higher volume. $1.25 could be resistance turned support.
Further upward movement in price could see the gap at $1.33 filled. Immediate support is at $1.25.
NOL
Although a black candle was formed today on relatively higher volume, there is reason to be optimistic. Why?
The decline in price only travelled halfway ......