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.
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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.
Reaching $3.10 soon!