CapitaMalls Asia closed at $2.02 on Wednesday, 27 November 2013. Price for the short-term trend is going sideways due to the poor market sentiment; price consolidation was seen between $2.00 to $2.08. In terms of mid-term trend, CapitaMalls Asia’s share price has stopped falling below the 50-day moving average (as indicated by the green line), with strong support at $2.00.
Chart On CapitaMalls Asia
CapitaMalls Asia seems to be in a tradable position as risk is low, even if we do cut loss in the event when its share price falls below $1.985. Moreover, we see that prices have been reacting well with the 10-day simple moving average (as indicated by the red line). There is a good chance that the share might rally if its price manages to break above the 10-day moving average.
