Price Action Analysis for CapLand Ascott Trust (HMN-SGX)
1. Trend Analysis:
- Overall Trend: The stock is in a downtrend, as evidenced by a series of lower highs and lower lows.
- Recent Highs and Lows:
- Lower Highs: 1.130, 1.100, 1.030, 0.985, 0.955
- Lower Lows: 1.050 → 1.000 → 0.925 → 0.870 → 0.840 → 0.865
- Signs of Trend Weakening:
- The price is currently consolidating around the 0.875 level.
- Smaller trend bars and overlapping price action suggest possible exhaustion in the downtrend.
- The presence of bullish reversal patterns near support levels.
2. Key Price Action Signals:
- Strong Trend Bars:
- Red bars with follow-through indicate strong selling momentum.
- Green bars at support levels show buying interest.
- Reversal Bars:
- A bullish reversal (long lower wick) at 0.870 and 0.865, indicating demand.
- Bearish engulfing candles around 0.985 and 0.915, confirming resistance.
- Inside Bars & Consolidation:
- The recent price action near 0.875 suggests consolidation.
- Potential breakout scenario if price clears 0.900 or breaks below 0.865.
- Doji Bars & Context:
- Dojis appear at 0.885 and 0.920, indicating market indecision.
3. Support & Resistance Levels:
- Support Zones:
- 0.840 - 0.870: Strong demand area.
- 0.865 - 0.885: Holding as short-term support.
- Resistance Zones:
- 0.915 - 0.920: Prior support turned resistance.
- 0.985 - 1.000: Major supply zone.
4. Breakout & Pullback Analysis:
- Breakouts:
- Weak breakouts near 0.900, as seen by long upper wicks.
- A strong breakout above 0.920 could trigger a bullish move.
- Pullbacks:
- Current price testing previous support-turned-resistance at 0.885.
- A deeper retracement to 0.850 - 0.865 could attract buyers.
5. Market Context & Trading Bias:
- Current Market Condition: Ranging within a broader downtrend.
- Potential Trend Change Signals:
- If price breaks and holds above 0.920, it could signal trend reversal.
- A move below 0.850 would confirm further downside.
- Trader Sentiment:
- Bearish Bias as long as price stays below 0.920.
- Watch for a bullish breakout above 0.920 or buying interest near 0.865.
Conclusion:
- Bearish Trend with Possible Reversal Signs.
- Key Levels to Watch: 0.865 (support) & 0.920 (resistance).
- Potential Trading Setup:
- Breakout Trade: Buy above 0.920 with a target of 0.955 - 0.985.
- Support Bounce: Buy near 0.865 - 0.870 if price shows reversal signals.
- Short Opportunity: If price breaks below 0.850, target 0.840 - 0.825.
Disclaimer:Please note that this analysis is for educational purposes only and should not be taken as investment advice. Trading involves significant risk, and you should consult with a financial advisor before making any decisions.
Dividend: 6.49%
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