Can the 2.70 psychological support hold ?
Sent: Wednesday, 26 August, 2015 11:02 AM
Subject: ********* Capitaland: Back to consolidation after sell down, more weakness still possible below 2.70, price 2.80
Subject: ********* Capitaland: Back to consolidation after sell down, more weakness still possible below 2.70, price 2.80
Following up from previous SELL CALL on Monday, we have indeed seen a breakdown below the 2.90 support level as it headed to a low at 2.75 yesterday which would be a temp support for now. Range is from 2.75 to 2.90 and a failure to close above 2.90, may open the way to 2.70, 2.60 then 2.40 in the short term with market weakening further. Those looking to accumulate can do so slowly as it touches this support level where we can expect a technical rebound where one can exit. 100 day MA line on the verge of crossing below the 200 day longer term MA Line with 20 day MA still surging lower on yesterday’s price action – short term downtrend intact below 2.90 imo.
Sent: Monday, August 24, 2015 9:30 AM
Subject: ******** Capitaland: More downside if 2.90 does not hold.... price 2.92
Subject: ******** Capitaland: More downside if 2.90 does not hold.... price 2.92
Capitaland may find a temp support around the 2.90 level with a lowered range to 2.95. Note that any further breaking below 2.90 can pave the way to 2.70 which was the low in March last year before it staged a rebound. Trend still weak with moving averages pointing lower and all indicators still negative.
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