Capitaland (Gap Resistence Ahead)

Posted on Oct 30, 2011 3 Comments    Posted under: Home Post, SG MarketWatch

Following the bullishness of the STI, Capitaland followed suit, breaking it’s resistence at 2.72 level and penetrating out of it’s bollinger band.

Congrats to those who invested in this counter.

However, the road ahead of Capitaland looks tough. Although 2.72 resistence is overcome and will now act as a layer of support, Capitaland will need to close the 2 gap resistences ahead (indicate in shades of blue) of it.

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3 Comments + Add Comment

• 
  Kayleen October 31, 2011 at 11:06 am

  Nice breakout by capitaland with good volume but I am of the view that the market is in overbought condition thus a retracement should be inevitable.

  I will possibly look out for a bullish flag formation to find my entry based on your resistance turn support of 2.72 with TP set close to resistance 2.85.

  Thanks for informing

  Kayleen

  Reply
• 
  John October 31, 2011 at 11:15 am

  Good trading strategy. You sounded seasoned.. are you a full-time trader?

  Nice to know you.

  John

  Reply
• 
  Kayleen October 31, 2011 at 11:16 am

  Hi john,

  Thanks for the compliments. No i am not a full-time trader but do have a keen interest and some experience behind me with trading the markets.

  Nice to know you too.

  Kayleen

  Reply