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Sunday, 15 June 2014

Capitaland: 15 June 2014, Sunday, 12.56am Singapore Time

Capitaland: 15 June 2014, Sunday, 12.56am Singapore Time
Chart courtesy of Chartnexus.com

Technical Analysis of Capitaland as per illustrated in Daily Chart above.

+ RED CIRCLE: Acquires Capitamall Asia at expensive and bad prices in my judgement. Acquisition is made at historic low interest rates environment and one which is flattening out. In essence, this acquisition is made in a business environment where property markets' technicals are turning downtrend long term.

Based on chart, Capitaland stock has fundamentals and technicals to drive it down to test $2.30 and $2.00 supports respectively. Both supports are expect to break down in the long term bear market.

Donovan Norfolk Technical Rating:
Bearish
Long Term Bear Market Transition 
(Sell on Rebounds)


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