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

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.

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