Capitaland: Selling still continuing.. Targets on tracked? Price 3.28.

by michaelg May 22, 2019

Author: Trading Impossible | Joey Choy
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Just 2 weeks back, we saw some bearish price actions in Capitaland with it breaking down below the 3.45 support level..

Short term trend indicators were starting to show a reversal after a recent high at around 3.70..

It was also approaching the 100 day MA line and a potential breakdown of that looks highly possible too..

Hence, some downside targets were drawn…

First target was at about 3.30 where we may see some short covering…

Over the past week, we have already hit our 1^st downside target…

The 2nd target to the south may still be playing out with a new low at 3.28 today..

Target were reiterated again last week as seen..

3.00 would be a really good support level where we can expect some good buying pressure to return…

Will see if we can head towards there amidst more market weakness…