CapitaMall Trust tested a significant support between 1.48-1.50 yesterday and today it formed a pair of tweezer bottom reversal candlestick with bullish divergence on the RSI to boot. Going long on this guy and looking for an initial target around 1.90 (the recent high). However I will be putting an initial stop loss at 1.47 and protect any profit with a trailing stop just below the previous day's candle.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
I am expecting it could recover to around 2.15 (61% fib retracement of the recent plunge). However any higher could be tough for time being as the Malls's earnings have already been affected during these couple of months. The covid-19 situation is still cloudy right now though I feel having a Circuit Breaker (aka Lockdown) would yield results (in containing the virus spread) after a month or max 2 months, hence I am optimistic that Malls could resume business by late (if not early) May. However I will let the technicals speak for itself and exit if it starts to sour.