CapsMallAsia (Gap acting as resistence)

Posted on Oct 30, 2011 1 Comment     Posted under: Home Post, SG MarketWatch

Property counters closed the trading strongly. CapsMallAsia is no exception. CapsMallAsia currently trades above all it’s moving average (MA) lines. In order for CapsMallAsia to trading higher, it would need to overcome it’s major resistence at 1.36 level.

1.36 is a classical resistence for this counter. With an additional gap resistence in between, it would take a massive trading interest in order for CapsMallAsia to overcome this level of resistence.

Failure to overcome this resistence could see CapsMallAsia retrace back to find normacy at it’s 20 day MA.

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