Capitaland had been in a trading range for quite sometime and the question is, is this trading range an accumulation or more downside to come? Looking at the range, the preparation work is not strong. This is to say that the BBs might need to bring this counter down further more before an upside is possible. They still believe that the current price is not attractive enough for them to accumulate more. If that is true, the ultimate price they are targeting is around 2.20-1.95. However, that is only my view and it might or might not happen. As usual, I will watch for the turn before longing this counter which so far it had not happened yet.
Ronald K
