CapitaLand has been trading sideway between $3.40 to $4.40 for the past 18 months. This is the 1st time in 18 months CapitaLand is unable to break the 200D MA resistance (in January 2011) and moves toward the $3.60 support. This $3.60 support proved to be a strong support for the past 5 occassions. If this support is broken, CapitaLand has very high chance to start down trend.
Goldean Agri has been on the down trend after breaking down from the Rising Wedge. CLICK HERE for previous post: Beware of Reversal. This reversal pattern has a minimum price target to $0.668 which is close to the 50% Fibonacci Support, followed by $0.63 which is the 200D MA support. 200D MA has proven to be a very strong support for Golden Agriculture for past few occassions. This $0.63 will be my entry point for short term trade if this stock has chance to come near to this level.
China HongXing looks like forming a Higher High, Lower High type of up trend chart pattern. China Hongxing is finding a good support at $0.155 which is the 200D MA support and the 38.2% Fibonacci Support. Next immediate resistance is $0.18 which is also the 61.8% Fibonacci Resistance. It is important to watch whether this $0.18 can turn resistance into support. Breaking this $0.18 resistance, China HongXing may have a chance to go up to $0.198 followed by $0.22.
