CityDev: Pulling away from new support, price 8.78

From yesterday’s call, we have seen CityDev pull away from the 8.70 new support level looks set to test 8.90 as mentioned.

Short term MA on the verge of reversing too with MACD crossing into postive zone after trading below since Oct last year.

Momentum can continue above 8.80 in the near term for now. Let’s see..

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Recent Email:

Sent: Wednesday, January 11, 2017 12:17 PM
Subject: ******** CityDev: A move above 8.60 a short term positive... price 8.70

After consolidating below 8.60 for more than 2 months, finally today, we have seen a move over the past few days with more strength today. Longer term trend still pretty flat with a cap at 9.20 since the beginning of last year. We can expect a trade to 8.90 then 9.20 before some profit taking occurs again.

For illustration purpose only