Capitaland

Commentary:

Since mid Oct, Capitaland has been range bound as denoted by the 2 horizontal line draw. During this period, Price action has moved in a zig-zag manner as depicted by trendline 1-4. Price action is currently heading lower and there is a strong chance history might just repeat itself again and rebound from range support level.

Strategy:

Aggressive short-term traders should track capitaland closely and go long once price action break up above downtrend line 4. If this happens, price momentum are likely to gather pace and test range resistance level of around $3.30 again. This likely scenerio will be negated if price action close under range support level for 2 consecutive days.