Capitaland has been trading in a range from the support level of $2.38 to the resistance level of $3.28. After Capitaland announced the right issues, it bounced from the support at $2.38. However it must be noted that the price is approaching several strong resistance levels such as the 50-day and 100-day moving averages. It will be interesting to watch thoselevels closely. The breakout of such well-defined trading range is often sustainable and may lead to the birth of a new trend.