Trade of The Day – Technical Pulse: CapitaLand Integrated Commercial Trust January 17, 2023 365
CapitaLand Integrated Commercial Trust (SGX: C38U)
(Current Price: S$2.04) – TECHNICAL BUY
Buy price: S$2.04 Stop loss: S$2.00 Take profit: S$2.20
The price has consolidated in a triangle, we could see follow through of the bullish momentum prior should price breakout of this consolidation phase. The Moving Average Convergence Divergence (MACD) technical indicator also made a fresh bullish crossover on 16 January. The price could reach the S$2.20 level which is confluent with a previous swing high, by taking the height of the consolidation triangle which is S$0.15 projected onto the breakout point.
Expected timeline of the trade is 1-2 weeks from the date of report issuance.
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Featuring regular TA posts and requests to analyse specific stocksAbout the author
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).