Capitaland: When can the Selling Off Finished?

Capitaland is starting a healthy correction (hopefully!) currently. The stock price is currently under the Net Asset Value (NAV) and many analysts view this stock as under value. However, this is not the time to long the stock yet until the correction over. A good entry level is near the supports level at about $2.77 (38.2% Fibonacci Retracement Level) followed by $2.67 (200D SMA). The 50D SMA is also going to cross 200D SMA soon which is also a bullish signal. Rule of thumb: Buy near Support, Sell Near Resistance.

Weekly chart shows that Capitaland has bottomed and reversed to uptrend (need to be confirmed) at $2.20. Need a “Higher High, Higher Low” to confirm the uptrend.

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