Chart Source: Poemsview 20th June 2019
Capitaland has seen a fierce rebound ever since market talk about rate cut in early june and with last night statement of the fed hinting that a possible rate cut might be coming in July. With a potential rate cut that might mean borrowing for developers would be cheaper which would translate to higher profits. As such most property stocks moved up quite fiercely.
We missed out on the first run but its never too late to spot a good entry and as Capitaland bounce off its 5ema support at $3.44 that’s where we spotted an entry.We alerted our EXCLUSIVE CLIENTS on Tuesday (18 June) for them to Plan, Prepare and Proceed as we’re glad in just two days, Capitaland moved up to our second target of $3.55 and is currently resisted.
A break above $3.55 might see it move up to $3.60.
As many blue chip property stocks have risen. We might want to take a look at second liners like Chip Eng Seng, KSH and lian beng.
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