CapitaLand – triangle breakout | Technical Analysis | Singapore Stocks


This is indeed a breakout from triangle formation. Some might argue its an ascending triangle due to the obvious double top peaks formed earlier but either way of looking at it is fine. I have drawn it as a symmetrical triangle in the attachment for easy reference. As for the price target, you actually look at the apex of triangle and apply the 2/3 RULE. That is to say that you draw the arrow taking the apex of the triangle as a reference point and count back 2/3 of the time frame. The price objective would then be the breakout price + height of base.

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About the author

Spencer Li is a trader, investor and entrepreneur who currently manages his own portfolio of stocks, REITs, currencies, cryptocurrencies, properties, and businesses. As a former professional in private equity and proprietary funds, he has over 10 years of market experience, and has been featured on more than 20 occasions in the media. As an international speaker and avid globetrotter, he has travelled to over 50 countries to spread his knowledge.

 

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