Capitaland Stock Code C31.SGX
Outlook
Price broke above the cloud in the previous trading day with a candlestick which reflected strong buying pressure. The movement yesterday also broke above a recent high of $2.83. An Ichimoku reversal was also confirmed as a result of yesterday movement. Conversion and Base lines had a bullish crossover yesterday, confirming the bullish trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. MACD is below the zero line but there was also a bullish MACD crossover. We expect price to move higher to the resistance zone of $2.97 to $3.01 in the next couple of weeks.
Strategy
$2.84 Buy
$3.00 Price Target
$2.73 Risk Management Stop
3 weeks Trade Duration
