Just about 3 weeks back, we spotted CapitaCom Trust approaching the key 2.05 resistance bullishly…
This level was key as we had rejected this resistance last year before it sold off all the way down to 1.70…
And finally we are back here again..
More importantly, there were some signs of the uptrend in progress again as we approach this level…
Was expecting some bullish moves up and hence some targets were drawn... as seen below…
Few days later, indeed, buyers were ready to take out all sellers and that level and lifted it off…
It finally broke the 2.05 key resistance after more than a year and this as definitely something to take note of,
Target was reiterated again towards 2.20 first as seen below…
Trend indicators were still looking favourable and pointing to more upside..
Just last week, we begin pushing higher and there were some profit taking near our first target at 2.20…
This was normal given the rise we have seen over the past few weeks where we can expect some consolidation along the way up…
However, we were expecting more strength with the eventual break of 2.20..
Seems like that has happened again today..
See below of new target revised last week.. Uptrend intact to ride while take steps to protect profits… 😉
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