CapitaMalls Asia

[profittaker]

looks like an evening star, didn't it?

Updated chart. Bounded by 10 and 50DMA. 10DMA turning up. Nice

[LenaHuat]

Hi profittaker
Evening star? Pl kindly elaborate. I can't grasp it

[profittaker]

Hi Lena, just to share cause I am new to candlestick. Evening Start definition is:

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The evening star consists of three candlesticks:
   1. A long white candlestick.
   2. A small white or black candlestick that gaps above the close (body) of the previous candlestick. This candlestick can also be a doji, in which case the pattern would be a evening doji star.
   3. A long black candlestick.

The long white candlestick confirms that buying pressure remains strong and the trend is up. When the second candlestick gaps up, it provides further evidence of residual buying pressure. However, the advance ceases or slows significantly after the gap and a small candlestick forms, indicating indecision and a possible reversal of trend. If the small candlestick is a doji, the chances of a reversal increase. The third long black candlestick provides bearish confirmation of the reversal.


Beside evening star, the two black bars of the same high looks like tweezer top too (just read about it last sunday).

[kennynah]

Hi L :

this is the other definition...

[profittaker]

[kennynah]

but on a more serious note...

evening and morning stars are more applicable when they are long cycle tops and bottoms respectively.. and it is more applicable on liquid counters....

it is my opinion that TA tools are lesser accurate when applied to many SGX listed stocks ... not sufficient liquidity, very tiny market cap size, etc...

specific candles like stars, dojis, hammers, railway tracks, engulfings, etc... must exhibit sufficient repetitive patterns that pan out... this is an important caveat to this tool... so, if you see CapLand.. you see way too many "t" (or dojis) that have next to zero impact on chart trend.... in this case, i would be careful to lend too much importance to candle reading for Capland chart...

good luck !

[LenaHuat]

Thanks a million to both kind souls, profittaker and kennynah So it's TA Hmmmm, agree that our local market is too shallow and illiquid for sophisticated TA. Noted that lonely evening star overlooking a barren landscape It's looks 'lunar'.

[millionairemind]

I agree with K. Our mkt is too lopsided and does not represent a true picture of buyers/sellers, especially in penny stocks where the stock seems to be able to move at will, up or down.

A couple of things I have found useful for rudimentary TA on SGX stocks is 10, 50 and 200DMA as well as congestion points for support/resistance.

[ichew]

and if u have deep pockets, u can "write" ur own TA on these illiquid stocks and/or trigger herds to follow u ...

[Blackjack]

So true so true... alternatively we can try to "look out" for these signals drawn by deep pockets