KiLrOy ( Date: 21-Mar-2010 17:42) Posted:
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but it does not always work. Draw another line from the 2009 low point and see what you get.KannaSze ( Date: 13-Apr-2010 11:23) Posted:
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KannaSze ( Date: 13-Apr-2010 11:23) Posted:
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I suggest to look at the volume for clue. The channel is only meaningful if the volume agrees.
First, there was a GAP at the big volume point, this is the RISING WEDGE breakdown. Draw a rising line and see if you have a rising wedge?
This is a bearish formation, classic interpretation, not mine.
After the breakdown with GAP, current move is trying to close this gap but it can only succeed if there is volume breakup, otherwise, once it touches the top of the gap, volume will rush in again to push it down. What if the gap is not closed.. this is even worse.
Haha, dump this stock!
Take a longer view approach for this counter if you can else split half holding for long view approach if you arent comfortable.
A 52 weeks daily chart shows a mild uptrend and price action contained within the channel.
A bigger picture hopfully to rest assured we are not at the all time high.
DBS was dUmpEd flat iN the 5 minUtes pOst-clOsE sEssiOn.
sOmeOne iS playing gamEs?
http://www.remisiers.org/research//Charted%20Territory%20-%20CapitaLand%20-%20103017.pdf
more agreed with this analysis:
Positive breakout suggests more upside to come
Key resistance breached. CapitaLand is likely to see more upside
potential after breaking and closing above its $3.97 key supportturned-
resistance and 50-DMA on higher volume yesterday.
Indicators have turned bullish. With the RSI signaling a strong
rebound at the 50% mark and the MACD indicator crossing above
the centerline into the positive territory yesterday (see enlarged
chart), they suggest that the bullish momentum has picked up
significantly.
Initial resistance at $4.17. On the upside, we peg the initial
resistance at $4.17 (support-turned-resistance), breaking which,
we see the next resistance at $4.44 (peaks in Oct ’09 and Jan
‘10).
Immediate support at $3.97. Meanwhile, the key $3.97 becomes
the immediate support, ahead of $3.62 (various troughs in late
2009 and early 2010) and $3.27 (resistance-turned-support).
lowchia ( Date: 16-Mar-2010 22:01) Posted:
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Immediate gap resistance of CapitaLand: $4.07 to $4.19
Immediate support of CapitaLand: $3.74
RSI @ oversold
IMO the gap resistance will be strong. If we were to break through, we need high buy up VOL.
Anyway i wont be buying now...it is too late.
SEE CHARTS
NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Members of the
Company will be closed on 29 April 2010 for the purposes of determining shareholders’
entitlements to the proposed first and final 1-tier dividend of S$0.055 per share and a special
1-tier dividend of S$0.05 per share for the year ended 31 December 2009.: