Chart Source: Poemsview 6th Oct 2020
Capitaland part of the STI component stock had a nice rebound ever since we mentioned about its base building just last week. It has reached our target of $2.80 in less than a week and experienced some pullback after hitting the resistance. Property counters are generally lagging behind but with strong sales, could these counters start to pick up?
Using technical analysis, for now 2.80 shall be the resistance and if Capitaland can break that we might see it move higher to around $2.86-2.88 which is the 100ema and the horizontal resistance.
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