Capitaland
Capitaland has violated the up trendline on last Friday. The closing was supported by the 100 days moving average and the last significant low at $3.65. The trendline was violated by $0.05 or 1.4% of the stock price, not large enough to call it a decisive breakdown. Furthermore, $3.65 has been traded actively ( ie: with higher than usual daily volume ) and served as a strong support the past two weeks. OBOS indicators are showing sign of oversold. So perhaps it is too early to conclude the breaking of the up trendline on last Friday will immediately bring prices down to the next two supports. We may need to apply the two days rule to watch it for one more day and see if it bounce off from $3.65....
PS: Turtle System sell short trigger at $3.62 ( source, HC )
PS: Turtle System sell short trigger at $3.62 ( source, HC )
Labels: Stock Pick
posted by Market Wizards @ September 21, 2009
Comments: 0
