CapitaLand (technical)

CapitaLand: Trading Central notes after the short pullback, CAPL rebounded on a medium term ascending trend line that has been in place since May '12. The 20day and 50 day moving avgs are also heading upwards, which should help push the price higher. Adds RSI has been positive though it is nearing the oversold area. While a short term consolidation cannot be ruled out at the stage, the house expects a further advance to $3.58 and $3.65 in extension, as long as $3.26 (supported by the 50day MA) is not broken.