Capitaland - TACT Proprietary Calibration Bands

Red mid-band being tested. A breakdown below this red support band will probably see a test of lower green support zone.

Any upward rebound above $3.40 will see a challenge and an upward attempt to retest the blue upper resistance area.

Capitaland Potential Adam and Eve Double Top

A steeper and sharper peak as shown by the green inverted V pattern was formed in April 2014. A pullback from this Adam Top Peak saw price dropped towards the blue support zone and a hammer candlestick was formed on 12th May 2014.

During the months of May and June 2014 a rounded Eve Top Peak indicated by the red curve was formed. Thus resulting in a potential Adam and Eve Double Top formation. The yellow immediate support zone is being tested now.

 A successful bounce upwards may retest the highs of the Adam and Eve Double Top Peaks. This upward swing will negate the double top pattern. Conversely. if the yellow support zone breaks down price will retreat downwards to the next support range indicated in blue.  A breakdown below this blue support zone will confirm this double top pattern.

Capitaland - Will there be nine dead cat bounces within the bear claws formation?

Since the last posting on 13th February 2014 Mr Grizzly Bear has won again managing to defeat the bulls at the red upper bear claws resistance zone for the 8th time.

This upper red bear claws resistance band is now the immediate resistance.

Next resistance is the $2.95 to $2.94  horizontal resistance zone. A close above $2.95 will probably see a retest of $3.05

A cat has 9 lives as the saying goes. Perhaps dead cat bounces comes in nines too! If this is true then expect a retest of the upper red bear claws resistance band for the 9th time followed by a pullback towards the blue mid band immediate support area.

Any further weakness will test the $2.73 support. If this support does not hold there is a high chance that the lower red support band will be retest for the 3rd time since June 2013.

Capitaland Testing Upper Resistance of Bear Claw

Chart shown as at 13th Feb 2014 1238pm.

Since the last posting on 7th Feb 2014 price has cleared the blue mid band and is now challenging the upper resistance band of the bear claw formation.

This will be the 8th attempt to escape from the claw trap. The previous 7 failed attempts are indicated by the red bear icons. Current escape shown by the blue bear.

IF this 8th attempt succeeds price will retest the next resistance zone at $3.06 - $3.05

However, should Mr Grizzly wins again expect a pullback to the blue mid band.

IF mid band support failure happens then a retest of $2.73

Below $2.73 will see the lower support of this bear claw formation being challenged again.