Support 1: 2.03 Resistance 1: 2.30
CapitaLand Commercial Trust bullish move is strong despite the correction. The falling wedge suggests the formation is a healthy bullish continuation pattern. The morning star candlestick formation above the 61.8% of the Fibonacci level and the positive close on Friday above the lower band of the Bollinger band further confirmed the upward momentum.
Stochastic Oscillators had initially shown that the stock is overbought and we should see a strong rebound back to the upside.
Red line = Upper Bound Bollinger Band
Blue line = Middle Bollinger Band
Green line = Lower Bound Bollinger Band
Red dotted line = 200 Periods Moving Average
Bollinger Bands Periods = 22
Standard deviation = 2