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Bullish break suggests more upside ahead
Key obstacles conquered. CapitaMalls Asia could see further recovery after rebounding off its 1-month uptrend support recently; this was followed by bullish breaks above both its 3-month downtrend resistance and $1.95 key resistance on heavy volume yesterday.
Indicator is bullish.The MACD is still climbing steadily at the moment, suggesting that the upside momentum is likely to continue.
Next resistance at $2.25.The counter is likely to head towards the $2.25 obstacle (key peaks) in the weeks ahead.
Immediate support at $1.95. Meanwhile, we advocate a stop-loss exit around $1.90, which is slightly below the newly established resistance-turned-support at $1.95.
Key obstacles conquered. CapitaMalls Asia could see further recovery after rebounding off its 1-month uptrend support recently; this was followed by bullish breaks above both its 3-month downtrend resistance and $1.95 key resistance on heavy volume yesterday.
Indicator is bullish.The MACD is still climbing steadily at the moment, suggesting that the upside momentum is likely to continue.
Next resistance at $2.25.The counter is likely to head towards the $2.25 obstacle (key peaks) in the weeks ahead.
Immediate support at $1.95. Meanwhile, we advocate a stop-loss exit around $1.90, which is slightly below the newly established resistance-turned-support at $1.95.
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