On Friday, Armstrong closed at $0.455 with LOW volume of 2.72 million shares traded.
A white candle sticks with short lower shadow indicates that prices are trying to establish the support at $0.445.
Both RSI & MACD are turning bullish as MACD begin to converge together.
Important Resistance of Armstrong: $0.485
Immediate Support of Armstrong: $0.46
Currently prices are supported by the technical /20 / 50 days MA at $0.46.
Armstrong has always been in our watch list and heavily vested by some of our fellow traders.
Armstrong rose from the $0.1 in Mar 2009 to current prices of $0.455 as of 27/Aug.
The technical analysis for Armstrong is relative simply; Repeated “consolidation and breakout” driven by good earnings and fundamental of the company.
However we would not encourage buying now but watch if prices can pullback to the major support at $0.415 for better entry price.
Otherwise we would consider buying if the all time high resistance at $0.485 breakout.
In addition, do look for the dividend status as shown below:
DIVIDEND: SGD 0.02 ONE-TIER TAX
Record Date: 14 Sep 2010
Payable Date: 30 Sep 2010
Armstrong’s 2Q2010 Net Profit Soars 125.9% To S$7.1 Million: http://armstrong.listedcompany.com/news.html/id/219359
On Friday, Capitaland re-tested the support turned resistance at $4.02 and closed at $3.98 with LOW volume of 10.4 million shares traded.
A black candle sticks with short lower shadow affirms that prices having difficulty in breaking the resistance.
Both RSI & MACD are flat as both indicators trend side ways.
Important Resistance of Capitaland: $4.02
Immediate Support of Capitaland: $3.90
Currently prices are supported by the technical /200 days MA at $3.90 while resisted by technical / 20 days MA at $4.02.
We would not suggest buying now since prices are too near to the support turned resistance at $4.02.
Instead we will watch the major support at $3.90 and hope that it can hold.
If support at $3.90 were to be breached at high volume, it will be a bearish signal since it is a 200 days MA cross down and formed the falling trend of “Lower High” & “”Lower Low”
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