On 3 November 2020, I wrote that CapitaLand share price could have bottomed when the blue chip sunk to a low of $2.50. At that price level, my diagnosis was that it was a good opportunity to enter this counter. Subsequently, CapitaLand share price turned on the style to stage a magnificent recovery, soaring from $2.50 to a high of $3.30 in recent days. Christmas certainly came early for CapitaLand investors but is the current rally of CapitaLand share price sustainable in 2021?
The recent resurrection of CapitaLand share price can be attributed to a combination of several potent factors. Firstly, with Joe Biden being confirmed as the new President of United States, much uncertainties had been removed from global stock markets. As a result, most of the Straits Times Index (STI) components rediscovered their forms lately. And CapitaLand share price, being one of the leading lights in SGX, was no exception....