Technical Analysis on Capitaland

Capitaland:
Currently closed at 3.24, Stochastics and RSI showing strength and moving towards overbought levels. Now hovering just above resistance at around 3.15, not really a significant breakout due to the lack of movement in today's session. Based on candlestick analysis, a "hanging man" or "upright hammer" is formed today. MACD shows a weakened Bear at the start of this mini rally, confirming that the bear rally has arrived. However, no further divergences can be seen as of today. Power of the Bulls is still the same as the previous high on 20 October.

Possible outcomes:
1) Reversal imminent due to the presence of the "hanging man" and 3.15 has been proving to be a strong resistance.
2) Further move above resistance which may indicate strong upwards breakout will trigger a long signal, placed with a tight stop loss. Price target of 3.65, stop at 3.20.