Wednesday, August 16, 2017

Property Stocks - Capitaland Still good?

Capitaland is a real estate developer based in Singapore. They invest in and manage integrated developments, shopping malls, homes, etc. Recently, they announced 97% increase in their 2Q 2017 profits, due to better operating performance from investments in Singapore and China.

Right now, Capitaland is trending above the 20-day and 50-day moving average. RSI is also above 50 and positively directed. Support level around $3.66, we expect the stock to break above the recent high of $3.88.

In fact, the whole Singapore property sector is in strong uptrend as well. Bukit Sembawang and CityDev are big movers since start of the year, have you noticed that?