Market Technician

CapitaLand (C31) Bullish Flag Pattern Technical Observation: CapitaLand consolidated since March 17, after government announced to tweak part of the property cooling measure. Under the Wyckoff Method, we termed this consolidation zone as Re-accumulation with the prospect of another upward move (Mark Up). At times, the re-accumulation can be slanted downward. But it also proves the supply is considerably larger than normal re-accumulation zone. Traders should be more cautious when trading breakout for stocks. Disclaimer applies.

Singtel (Z74): Towards S$4.00-S$4.10 Singtel broke above its accumulation zone last week, also more signifacntly, it traded and closed above its downtrend line (which Wyckoff calls it Supply Line ). This is technically significant as it exhibit demand exceed supply situation. With momentum and trading activity continues to be bullish, we should see Singtel trading towards S$4.00. And S$4.10 if bullish momentum gain pace. Disclaimer applies.