Capitaland is approaching support, potential bouncePrices are approaching support in line with our ascending trend line and 61.8% retracement and extension where we could see a bounce from here.
Capitaland
CAPITALAND JOINS LIST OF MEGA UPTREND STOCKSThe break of $3.63 from the long signal at $2.74 on 101120 has materialized with a strong close at $3.85 on 260321. The upside target is now 4.60 that was the level that Capitaland broke down on 010828 from its highs of 7.27 in 020407.
STI PROPERTY OUTLOOK : CAPITALAND & CITY DEVT 301120 (quantstrategic.com.sg)
Short term UPTREND since 101120
Medium UPTREND since 161120
Long term uptrend since 230321
PIVOT 3.45
Long positions above 3.45 for 4.60 and 5.75
Short positions below 3.45 for 3.25 and 2.37
Capitaland room for further downside Prices reversed nicely in our previous call, we maintain a bearish view on this stock and a pullback to test our sell entry could see a further drop from here.
Capitaland testing key support Prices are testing our key support level where a break below this level could see a further drop to our take profit targets.
C61U - opportunities for around 10% short-term gainsC61U is tracing the last leg that should complete primary corrective B wave. The most probable target is at 2.01. After this price should trend in direction to new lows. If price crosses down 1.67, before reaching the target, this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
C61U - CapitaLand Singapore - wait to short in wave 5C61U seems to have finished minuette wave 3 down. If this is the case, prices should go up to the level of subminuette 4 and after that there could be a good opportunity to short this prime office REIT from Singapore while it's on subminuette 5 down.. Keep tuned ! FOLLOW SKYLINEPRO TO GET UPDATES.
C61U (Singapore REIT) - last leg of triangle before new lowsC61U is tracing minuette wave E of a contracting triangle that will complete minute wave 4. The most probable target is at 1.54. After this prices should fall to new lows during minute wave 5 down. FOLLOW SKYLINEPRO TO GET UPDATES.
Capitaland (CAPL / C31) - almost 7 years of waitingWill Year 2020 be the glorious year for Capitaland to break above the line and go beyond 4.00 ?
Ascending triangle BreakoutBreak out from Ascending Triangle, However be cautious as the breakout was not accompanied by high volume over the past few weeks.
Potential target at 4.25 level.
