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CAPITALA - will it just touch or breakout?
Here's a quick look at the weekly charts over the past 10 years
Key observations:
- The red downward sloping line drawn over the past 10 years looks significant to me.
- Looks like good odds to test this line.
- The series of "HL" is also very interesting ...
- The weekly Accum/Dist is not dropping.
- The weekly RSI has higher lows too.
The million $$$ question is - will price action this week just touch the red downtrend line, or will it close with a breakout?
Disclaimer: I have a small trading position in CAPITALA bought at 66 sen, and plan to take partial profit at the downtrend line resistance, and plan to hold the majority for higher prices. As usual, you are fully responsible for your own trading and investing decision.
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Be the first to like this. Showing 9 of 9 comments
long time ago i already say Tony F can only save 1 of his companies: AAX or CAPITALA. he has chosen to save AAX so high chance CAPITALA will die
2 months ago
The disposal of AAAGL and AAB to AAX is to save capA.
AAX will be loaded with net liabilities and need to do another debts restructure, capital reduction and 10 to 1 share consolidation.
2 months ago
stony always survive ...... legend turn over two companies that was impossible ,, tan sri greatest ni
2 months ago
I followed my charts. Sold 32% of my CAPITALA holdings between 92-92.5 sen for +40% gross returns in less than a year. Keeping 68% for higher prices. Chart says go decent chance, slightly better than 50/50 chance for higher prices, hence, keeping 68%. Let's see. Thank-you Mr Market!
2 months ago
Where will all capA total negative equity go to if not AAX?
Chief executive officer Tan Sri Tony Fernandes said the pro forma effects of the proposed disposal based on the financial statement as of Dec 31, 2023, as included in the circular to shareholders dated Sept 20, 2024, shows that Capital A shareholders’ equity will turn to positive of RM649 million from a negative of RM8.8 billion.
2 months ago
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I don't normally show the 10 week EMA curve but show this here as it is a proxy to the 50-day EMA, a popular technical indicator used by many chart traders. There are many different uses, one of my favorite is to see if the slope is "curving upwards" or not. If it is sloping upwards then, decent chance that the bearish mood is shifting. However, one really doesn't need this indicator at all - just a glance at the price action shows the bearish mood is shifting.
Don't get me wrong - CAPITALA fundamentals are ugly. The huge current liabilities exceeding current assets is worrying. But the problem with announced and published information is that they tend to be lagging - you won't know if there is a fundamental development happening that is not announced yet. Whereas price action leaves a trail of the outcome between buyers and sellers. Still, price action is not full proof and is fickled, especially in a small market like Bursa where even smaller whales can influence, hence the outcome of trading will always remain uncertain.
2 months ago