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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Spencer Li is a self-made millionaire trader & investor, who achieved financial freedom at 27, having to date accumulated a diversified portfolio of properties, stocks, REITs, and 10+ businesses across different industries. As a professional trader, he has over 10 years of market experience, and has been featured on more than 20 occasions in the media.

 

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