Chartzones: CapitaMall, Genting, Ezra!

Today CapitaMall tested its critical support at $1.81 but managed to close flat at $1.85 with 8.55 million shares traded.

A candle stick with long lower shadow occurred.  This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

RSI & MACD displayed the ease of selling pressure indicating that the current price is well supported at this level.

Important Resistance of CapitaMall: $1.88

Immediate Support of CapitaMall: $1.81

We would suggest to buy this counter only after it has breakout of its $1.88 major resistance at high volume otherwise the upside may be limited.

Today Genting broke through the resistance at $0.975 and close higher at $1 with HIGH trading volume of 0.22 billion shares.

The buying pressure is relatively strong as demonstrated by its LONG white candle sticks with no upper shadow and high trading volume.

RSI & MACD show the strength of this rally and in fact MACD is very close to execute a “golden cross”.

Important Resistance of Genting: $1.04

Immediate Support of Genting: $0.975

Genting will be expected to re-test its resistance at $1.04.

We would suggest buying upon tomorrow open if trading volume seems higher than average but sell if Genting does not have the momentum to break technical resistance/200 days MA at $1.04.

In addition, buy Genting if break out of $1.04 as well.

Today Ezra managed to stay off its low of $1.63 and close higher at $1.68 with slightly higher than average trading volume of 14.7 million shares.

For the past 4 days, Ezra has been displaying 3 reversal candlesticks to show the buying pressure as it approaches nears its important support. (21/24 May: Inverted hammer & 26/May). All these candlesticks suggested that the bottom is near and bargain hunter may come in anytime to buy up this stock.

RSI & MACD still relatively bearish with both indicators at oversold region.

Important Resistance of Ezra: $1.72

Immediate Support of Ezra: $1.64

We would suggest looking out for a reversal signal for trading opportunities. If Ezra managed to break $1.72 at high volume, it might be a good start.