Capitaland is getting closer to a very important Resistance Turned Support Zone. This support zone have been tested 4 times for past 1 year. Will Capitaland rebound from here? Also interesting to take note that this support zone is also within the 50% Fibonacci Retracement level.
Break or rebound? There is definitely a trading opportunity! Keep a close eye on reversal candlestick formation.
Capitaland is rejected at the Neckline Resistance at about $3.50. This level is also the Down Trend Channel resistance. Capitaland has been trading nicely within the uptrend and down trend channel previously. Feel free to check out the past chart patterns for Capitaland. Base on current bearish chart, short selling Capitaland provides a better Reward Risk Ratio trading strategy,
See previous stock chart analysis for Capitaland.
Capitaland broke down from a Head and Shoulder and also broke the 200D SMA support. Capitaland is currently trading in a down trend channel. Expect more down side base on current chart pattern. Price target for this Head and Shoulder breakdown is $3.15.
Learn how to Short Singapore Stocks when the chart is showing down trend here. An important technique to learn when the stock market crashes or trade in a bearish market.