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Capland
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scotty
Senior |
16-Nov-2006 22:10
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I think better sell before the IR result is out!! |
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maxsyn
Veteran |
16-Nov-2006 21:53
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From Kim Eng research: Capitaland ($5.75) The post-Sars bull market has lifted CapitaLand from a bottom of $0.79 to a high of $5.95 last Friday. While the major uptrend remains intact, charts indicate limited upside from this price point. CapitaLand''s price trend has now hit the return line R-R (resistance) of a major uptrend channel. Based on wave counts, the late September rally from $4.02 now forms wave 5 of the five-wave move, which began from $1.15 in May 2004. (refer to chart) We expect charts to top out near $6.40, with any correction likely to result in a test of the major support levels at $5.05 and $4.58. In this respect, the risk/ reward ratio is highly unfavourable, in our view. We advocate that investors trim their portfolio holdings in CapitaLand at or above the $6 level. |
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