CapitaMall Trust (CMT), at a price of $2.29, is moving against the broad market trend. While the STI is fast approaching bear territory, CMT is near its 52-w high of $2.31, it is also near its highest price in the past 5.5 years. This has piqued my interest to look deeper. Interesting Price Movement Looking at CMT’s 4 year chart, the stock shows a rather distinct pattern of range-bound movement. On hindsight, one can attempt to enter CMT at the low range of this price channel at around $1.85-$1.95, and profit from its rise to a high range of around $2.15 to $2.20. This entails a profit margin of between 10% to 19% with a waiting period of between 1.5 mths to 8 mths. Opportunities of range trading for CMT in past 4 years.
Source: poems chart live
It seems that CMT is behaving like a swing trading stock, ideal...