CapitaLand has started a down trend after breaking the $3.60 support. The recent sell down punched through the 61.8% Fibonacci Retracement support at about $3.415. Expect Capitaland to rebound at this 61.8% FR support level but $3.60 will be turning from support to resistance. A “Lower Low, Higher Low” chart pattern has been formed to confirm the down trend for Capitaland.
Previous Post on Capitaland HERE.
Capitaland closed at 3.37 today. What’s your take on buying in now?
I will wait until Capitaland get near to the 50% Fibonacci Support at about $3.10 and then take a look. Only will get in for short trade when I see the reversal pattern.
Thanks Marubozu.
Reaching $3.10 soon!