Capitaland

The STI closed at 1533 today - breaking the 1570 support in Nov 08. The next support is 1472 in Oct 08.

Let's look at a daily chart of Capitaland, attached above. Today, it smashed through its support of $1.885 recorded in Oct 08, closing at $1.76. Notice the successively higher trading volumes during the last three trading days corresponding to successive lower closes. To me, this shows that the bears are fully in charge of this stock. The MACD (moving average convergence-divergence) indicator has also turned down sharply, indicating that the downward momentum is gathering pace. The opening up of the Bollinger also indicates an increase in volatility on the downside. In my opinion, this stock should either be avoided, or played on the short side.