Just about 2 weeks back, we spotted the reversal move in Capitaland when it broke above the 3.50 resistance level…
This was quite a good price action spotted which can lead to any reversal up..
It has actually traded to a low of 3.40 – 3.45 where we saw some good bargain hunting coming back and buyers were out to defend the support like we have seen since the beginning of 2017…
A rebound potential was expected like we have experienced previously…
See what was sent…
True enough, we saw Capitaland trading higher over the past 2 weeks and seeing some resistance at 3.65…
We may be reaching our 1st target 3.70 soon as drawn above…
Upside can still continue on a clear breach above 3.70 towards our 2nd target at 3.90 where some good profit taking is expected.
Watching…
See below updated chart that was captured a few days back with targets reiterated…. Let’s see….
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