Thursday, August 23, 2012

Singapore Stock - CapmallsAsia Chart

CapmallsAsia now trading at $1.65, on the chart we can see that this stock is moving on a steady uptrend in a price channel. We always look for stocks that is trending up and buy near support when it pull back from its high. Right now CapmallsAsia has pull back from its high of $1.70(resistance) and the trendline support is somewhere around $1.625. This time round we might be interested to go for a shorter term trade e.g 5-10days, targeting $1.70 again. Stoploss $1.62