Capitaland hit an intra-day low of $2.67 on 15th Jan 09 after retracting from an intra-day high of $3.68 on 4th Jan 09. The $2.67 price could be the temporary bottom for short-term as Stochastic signals showed current price level is bottoming. A clear sign of upside has yet to shown as DI+ still yet to cut up the DI-. RSI also halt falling which is good sign for short-term. Current immediate support is at the $2.64 level and if it is able to rebound with strength, potentially it could test the $3.30 resistance level. Monitoring Stochastic signals cut up and DI+ cut up to DI- with ADX moving up towards the 40 level should have strong indication that price level is able to hit $3.30. At close price of $2.74 on 16th Jan 09, down side $2.64 and upside $3.30, the reward/risk ratio is
($3.30 - $2.74)/($2.74 - $2.64 )
= 5.6x
