Trade of the Day – CapitaLand China Trust (SGX: AU8U) March 1, 2023 632

Trade of the Day

CapitaLand China Trust (SGX: AU8U)

(Current Price: S$1.16) – TECHNICAL BUY

Buy price: S$1.16     Stop loss: S$1.11     Take profit 1: S$1.24    

Take profit 2: S$1.29  

 

 

The price made a retest of the uptrend channel support and neckline of the bullish inverse heads and shoulders breakout at S$1.14 level. Price has found support with the formation of bullish candlesticks and we can see continuation of the uptrend to retest the recent resistance at the S$1.24 swing high level and subsequently the S$1.29 resistance level, which was a previous swing high formed in January 2021.

Expected timeline of the trade is 6-10 weeks from the date of report issuance.

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About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst
PSR

I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).

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