CapitaLand has strengthened, forming a white candle on Friday, March 5, accompanied by a notable increase in volume. This has been a trend since the last week of February, with white candle days attracting more buying. Quarterly momentum has rebounded off its equilibrium line. In addition, clear major positive divergences have formed between prices and annual momentum. As annual momentum recovers, it is likely to reinforce an upturn by quarterly momentum, which in turn should provide the impetus for a price break above resistance which coincides with the 50-day moving average at $3.25. In this event, the next resistance is at the 2021 high of $3.51. Support has been established at $3.12.

Although Singapore Airlines surged in the early part of Mar 1-5, it retreated to end the week of Mar 1-5 off its high. The chart pattern remains bullish. The price break above the six times tested resistance, which coincides with the top of a multi-month base formation indicates a target of $5.63, and this remains valid. Any retreat is likely to be temporary with initial support near $5.00 to $5.10.

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