CapitaMalls Asia appears to be showing signs of a trend reversal to the upside after trading in a downtrend since December 2009. Price actions have managed to form a base and trade back above the 20 and 50-day moving averages. Positive readings are also being detected in the trend and momentum indicators. The MACD trend indicator has a bullish crossover above its centerline and the RSI momentum oscillator has broken above its diagonal resistance. These observations suggest that the bulls are in control and a break above the immediate resistance at $2.02 may see a further ascend to test the next resistance at $2.12. However failure to hold above the immediate support at $1.96 may see the return of the bears to push CapitaMalls Asia below to re-test the all-time low at $1.83.