outlook of this week's trade

both SGX and Capitaland didn't put up much of a show today, closing lower than the previous close. Capitaland dipped 3.1% to close at 6.35 while SGX dipped 0.2% to close at 8.02.

for Capitaland, 6.50 may prove to be quite a resistance that needs a great deal of strength just to sustain a breakout. the close up on last friday didn't have enough steam to carry the prices up, hence a fall of 3.1% is seen today. currently, there are no possible trend that can be seen except for a high chance of a retreat to support at 6.20, or a consolidation phase between 6.50 and 6.20.

SGX on the other hand seems to be very weak nowadays, with price difference between previous close and the days close not being too far apart. this is kind of rare to be seen from a somewhat volatile stock in my opinion. currently at the 8.02 levels, i feel that it would still linger around the 8.00 support levels. a breaking of support at this level would indicate further downside for the stock, however, nothing much can be said about how the prices may move in the weeks to come. traders who strongly believe that 8.00 is where strong support comes in may choose to buy, however, there are no signs of any upward trend at the moment.

and yet, i would say another bleak weak for the stocks today. i was thankful i didnt go long for Capitaland as my senses told me to hang on and read the telltale signs from today's close.

oh let it be when the upward trend comes, a gold bar would drop on my head, crude oil would gush out of my toilet when i press flush, and grains of rice starts pouring out of my shower head.