Capitaland: A Nice Complete Elliott Wave

Capitaland is forming a very nice & complete Elliott Wave. Technically Capitaland is starting a down trend where “Lower Low, Lower High” pattern has been formed. Current price is trading below all 20D, 50D and 200D SMA whereby 20D & 50D have started Death Cross over 200D SMA.

Previous Stock Chart Pattern Analysis on CapitaLand.


Expect more down side for Capitaland if look back at previous chart pattern. Previously Capitaland had shown Bearish Elliott Wave before. Will history repeat itself? Anyway it is not for me to guess. I will just trade base on what I see from the chart.


This Post Has 2 Comments

  1. student

    hey kk,
    what do you think of capitaland now? think it can go below last week’s low?
    i been holding short position since 2 wks ago, entered at 3.21, greedy to release last week. now rebounded.

  2. Marubozu

    @Student: Congratulation of making money but stick to your trading plan and don’t be greedy. Mr. Market will give you what she wants to give you. If you draw the support and resistance again, you should be able to see the Falling Wedge with resistance at about $3.15. Wait for the rebound to be exhausted first before short again. $3.00 is the psychological support and it is risky to short now unless this support is broken. BTW, you should see a Bearish Elliott Wave and you have a lot of opportunities to trade.

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