By Eric Lee, Sales Director of Phillip Nova
CapitaLand Investment (SGX: 9CI) has been in a downtrend since October 2024, falling from its peak of $3.20. However, recent technical signals suggest that accumulation may be taking place, with a potential breakout on the horizon. The volume profile indicates significant trading activity in the $2.40 to $2.60 range, which could signify either accumulation or distribution. Given the bullish signals emerging from other indicators, accumulation appears more likely.
The stock has recently broken out of a Bollinger Band squeeze, typically a sign of increased volatility. The price action suggests buyers are stepping in, pushing the stock above short-term resistance levels. The Know Sure Thing (KST) momentum indicator, displayed in the lower panel, is in a strong upward trajectory, reinforcing bullish sentiment. This suggests that positive momentum is building, potentially supporting a move higher.
Key levels to watch include $2.63 as immediate resistance, with a breakout above this level potentially confirming the bullish trend and setting the next upside target around $3.00. On the downside, $2.40 remains a critical support level. A failure to hold above this level could indicate further weakness. Investors and traders should watch for confirmation signals before taking positions.
CapitaLand Investment (SGX: 9CI) has been in a downtrend since October 2024, falling from its peak of $3.20. However, recent technical signals suggest that accumulation may be taking place, with a potential breakout on the horizon. The volume profile indicates significant trading activity in the $2.40 to $2.60 range, which could signify either accumulation or distribution. Given the bullish signals emerging from other indicators, accumulation appears more likely.
The stock has recently broken out of a Bollinger Band squeeze, typically a sign of increased volatility. The price action suggests buyers are stepping in, pushing the stock above short-term resistance levels. The Know Sure Thing (KST) momentum indicator, displayed in the lower panel, is in a strong upward trajectory, reinforcing bullish sentiment. This suggests that positive momentum is building, potentially supporting a move higher.
Key levels to watch include $2.63 as immediate resistance, with a breakout above this level potentially confirming the bullish trend and setting the next upside target around $3.00. On the downside, $2.40 remains a critical support level. A failure to hold above this level could indicate further weakness. Investors and traders should watch for confirmation signals before taking positions.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.