Stocks with Momentum: City Developments and CapitaLand Ascendas REIT

January 30, 2024

In today’s fast-paced stock market, understanding the subtle cues of technical analysis is key to smart investing.

In this article, we focus on City Developments Ltd (SGX: C09) and CapitaLand Ascendas REIT (SGX: A17U). City Developments has been on a strong bearish trend for the past six years and rebounds has been limited. Meanwhile, CapitaLand Ascendas REIT’s price action shows strong exhaustion of the bull and could see a stronger correction.

Here is a look at some of the key highlights of the technical report.

City Developments Ltd

Market Position: Indicated as a ‘Technical Sell’ with a last price of S$6.17.
Entry Prices and Support Levels: Entry prices are S$6.17, S$6.31, and S$6.56, with support levels at S$6.09 and S$5.95.
Stop Loss and Resistance Levels: A stop loss is set at S$6.81, with resistance levels at S$6.31 and S$6.79.
Target Prices: Target prices are S$5.80, S$5.49, and S$4.70.
Company Overview: City Developments Limited provides real estate services, including renting, buying, and selling residential, commercial, and hospitality properties, as well as consulting services.

For a more detailed analysis, click on the link to access the report.

CapitaLand Ascendas REIT

Market Position: Positioned as a ‘Technical Sell’.
Entry Prices and Support Levels: Entry prices are S$2.89, S$2.95, and S$3.00, with support levels at S$2.86 and S$2.74.
Stop Loss and Resistance Levels: A stop loss is suggested at S$3.05, with resistance levels at S$3.03 and S$3.18.
Target Prices: Target prices are S$2.74, S$2.63, and S$2.46.
Company Overview: CapitaLand Ascendas REIT invests in industrial real estate, including business and science park properties, integrated development amenities, retail properties, high-specifications industrial properties, data centers, light industrial, flatted factories, and logistics and distribution centers.

For a more detailed analysis, click on the link to access the report.

Take advantage of the stock momentum

Our goal is simple: to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re a seasoned investor or just starting out, our analysis is designed to help you navigate the market with confidence.

Disclaimer in the report attached

Tags: Real Estate, REITs, SGX:A17U, SGX:C09, Singapore

Billy Toh

Billy is deeply committed to making investment accessible and understandable to everyone, a principle that drives his engagement with the capital markets and his long-term investment strategies. He is currently the Head of Content & Investment Lead for Prosperus and a SGX Academy Trainer. His extensive experience spans roles as an economist at RHB Investment Bank, focusing on the Thailand and Philippines markets, and as a financial journalist at The Edge Malaysia. Additionally, his background includes valuable time spent in an asset management firm. Outside of finance, Billy enjoys meaningful conversations over coffee, keeps fit as a fitness enthusiast, and has a keen interest in technology.