CapitaLand (technical)

CapitaLand: Trading Central notes the stock remains capped by a declining trend line in place since Aug 2013, and recently accelerated on the downside. As both the ST & MT moving averages are heading downwards, and continue to push the prices lower. Besides, the momentum indicator RSI is bearish, confirming a negative outlook. As long as $3.05 is resistance, the house expects a new down leg to $2.75, and even to $2.6 as possible.