Index components continue to move gradually higher on a rotational basis. DBS Group Holdings broke out of a sideways range on the first trading day of 2021. It is now consolidating its gains. Elsewhere, CapitaLand, currently at $3.47, moved above a several times tested resistance area at $3.20 to $3.23 in Dec, just as the 50- and 200-day moving averages made a positive cross. This coupled with rising 50- and 100-day moving averages, and volume expansion triggered at breakout on Dec 18, setting an upside of $3.90. The developer is likely to move progressively upwards, in a series of higher highs and higher lows. Support is raised to 3.40.

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