If Capitaland cannot return back up to $2.33, this support will turn resistance and the stock price will be heading towards $1.964.
- Fundamentally the stock is under value base on NAV and PE ratio.
- Technically Capitaland stock chart is bearish. The stock is on down trend and recently drop back into the down trend channel.
- Base on Macro-economy, Capitaland has exposure in China. There is a high probability of property bubble in property sector.
- Recent ABSD (Additional Buyer Stamp Duty) also dented the investing sentiment in property counter.
This is a classic example that stock market is very much emotional rather than logical.
This post is orginally from My Stocks Investing Journey.
