Capitaland chart

We see a possible resistance zone formed between $7.25 to $7.35 and this will be the first resistance for the stock. After the initial breakout of the trading range from $5.50 to $6.40, the price retraced and found support on the 20-day moving average. As the stock trades higher, reader may want to observe the relationship between the 20-day moving average line and the price. If the trend is heading up, the 20-day moving average will act as a support for any price pull back. We should be careful if this line fails to act as a support in the future.