Capmall coming down

I seems to be having time stretch tonight,I have managed to look into quite many charts within a time span of 1 hour. That is on top of me taking some time out to play with my kids before they went to bed. I managed to glance through Forex, indices, my focus counters, penny stocks, and now the index stocks. May be it is because for the whole hour I only have one entry to the Blog.


Fig 1 Capmall Weekly Chart

So while I am glancing through the index related stock, this Capmall came into my sight. I recall this counter used to be called DBSLand. I used to play this stock last time because it was quite cheap. Well, it is still cheap considering it worth only 1.85 now.

As I was say (er...writing) The counter wave count seems quite straight forward with an ABC move.It is the recent moves that makes it quite complex, with each waves overlapping others. If I am not mistaken, this is more like a counterwave to me.

I placed a Fibonacci fan over recent development and noted that this counter is actually going on decline. It keeps going to a lower fan line every time. Now, if I consider the fan to be a tool to observe a reversal, then probably Capmall is at the start of its journey.

Either it is true or it is my make believe, I am seeing more charts on reversal at the moment. They allo have a similar pattern of curving off the top. It does re-enforce my belief that we are on a verge of seeing a second dip. If this is so, probably I would have to count myself lucky because I am not carrying any stock right now. If on the other hand, I am on the other side of the world (the wrong side), then it would also be my dumb luck that this happens.

For now, I am quite certain I am on the right side of the world ( of left because I am a left hander).