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CAPITALA - will it just touch or breakout?
Here's a quick look at the weekly charts over the past 10 years
Key observations:
- The red downward sloping line drawn over the past 10 years looks significant to me.
- Looks like good odds to test this line.
- The series of "HL" is also very interesting ...
- The weekly Accum/Dist is not dropping.
- The weekly RSI has higher lows too.
The million $$$ question is - will price action this week just touch the red downtrend line, or will it close with a breakout?
Disclaimer: I have a small trading position in CAPITALA bought at 66 sen, and plan to take partial profit at the downtrend line resistance, and plan to hold the majority for higher prices. As usual, you are fully responsible for your own trading and investing decision.
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Ride The Bull Short The Bear
CS Tan
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
DividendGuy67
I don't normally show the 10 week EMA curve but show this here as it is a proxy to the 50-day EMA, a popular technical indicator used by many chart traders. There are many different uses, one of my favorite is to see if the slope is "curving upwards" or not. If it is sloping upwards then, decent chance that the bearish mood is shifting. However, one really doesn't need this indicator at all - just a glance at the price action shows the bearish mood is shifting.
Don't get me wrong - CAPITALA fundamentals are ugly. The huge current liabilities exceeding current assets is worrying. But the problem with announced and published information is that they tend to be lagging - you won't know if there is a fundamental development happening that is not announced yet. Whereas price action leaves a trail of the outcome between buyers and sellers. Still, price action is not full proof and is fickled, especially in a small market like Bursa where even smaller whales can influence, hence the outcome of trading will always remain uncertain.
4 hours ago