Sunday, March 31, 2013

Will Capitaland Continue to downtrend?

New property rules to cool China real estate market
http://www.asiaone.com/A1Business/News/Story/A1Story20130331-412495.html

The latest property curb from China was release on Saturday. The chart below shows the chart of capitaland. Previously we posted on web that Capitaland was getting out of the uptrend pattern and changing to downtrend. http://www.andy-yew.com/2013/02/capitaland-turn-weak-after-almost-9.html
Since our last call on Capitaland in Feb, this stock dropped from $3.9 to $3.4 . Near 13% profit if you have shorted. With the new ruling, we might see Capitaland being sucked into further weakness, hence if you have shorted previously now could be a good time to add on to your  position if price break below prior day low.
How ever if you are trading short term, stoploss can be place at $3.64

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