Capitaland after hitting the high of $3.28 on 10th Aug 2016 it had since retreated and gone lower to touch $3.03 on 4th Nov 2016. This is rather bearish.
It has broken down the major support level at $3.06 which may likely see further selling down pressure. The fact that it has broken down of $3.06 and closed lower at $3.04 this signify further weakness for the price.
Both Macd & Rsi are pointing downwards which may be a tell tale sign the the share price may likley continue to trend lower.
Short term wise. I think it may go down to test $3.00. Breaking down of $3.00 with high volume that may drive the share price lower towards $2.95 then $2.85.
EPS of 11.4 cents base on half year result. NAV of $3.95, P/B of 0.78x. Cash & Equivalents about $3.92B. I think fair value appearing if price fallen below $3.00. Good opportunity present if price further weaken towards $2.85.
3rd quarter result will be out on 9th Nov 2016.
(trade base on your own decision)
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