I was very excited when i saw the bullish divergence chart pattern on the daily chart of Capitaland. Bullish divergence occurs when the price traces a lower low, ie $1.94 on 10 Feb and $1.70 on 3rd Mar 09, but the MACD traces a higher low instead. (See the trend lines in green. My trend line on the price is off. Sorry.). This shows that the bears are losing steam. A buy signal was given when the MACD lines crossed around 11 Mar09, around $1.99, target around $2.35, stop around $1.91.
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