A Three Inside Down candlesticks pattern (a reversal pattern) has formed for Capitaland when Capitaland hit the 50D MA resistance and near to the down trend channel resistance, plus unable to break the $3.00 psychological resistance. Expect Capitaland to continue to trade within the down trend channel. Next support is at $2.776 followed by the down trend channel support.
See previous analysis on Capitaland.
Capitaland is currently trading in a down trend channel. The stock may rebound in the next few days after hitting the down trend channel support but will be facing psychological resistance at $3.00 followed by $3.10 the down trend channel resistance. There are no sign of Capitaland is going to bottom out soon. Also take note that the long term 200D MA is trending down.
Capitaland breakout from Inverted Head and Shoulders and the price target is $3.65. Also note that the increase in buying volume supports the breakout.
