Key support still intact. CapitaMalls Asia is likely to see further recovery after rebounding strongly at the $2.02 key resistance-turned-support on significant volume yesterday; at the same time, its 1-month downtrend resistance was also conquered.
Indicator turning bullish. The MACD is on the brink of initiating a bullish crossover; this suggests that the upside momentum is improving significantly.
Next resistance at $2.25. The counter could head higher towards the next key obstacle at $2.25 (key peak) in the weeks ahead.
Immediate support at $2.02. Meanwhile, we advocate a stop-loss exit at around $1.96, which is slightly below the firm resistance-turned-support level at
$2.02. Note: We currently have a fundamental BUY rating on CapitaMalls Asia with S$2.55 fair value.
No comments:
Post a Comment