Bullish break suggests more upside ahead

Key obstacles conquered. CapitaMalls Asia could see further recovery after rebounding off its 1-month uptrend support recently; this was followed by bullish breaks above both its 3-month downtrend resistance and $1.95 key resistance on heavy volume yesterday.

Indicator is bullish.The MACD is still climbing steadily at the moment, suggesting that the upside momentum is likely to continue.

Next resistance at $2.25.The counter is likely to head towards the $2.25 obstacle (key peaks) in the weeks ahead.

Immediate support at $1.95. Meanwhile, we advocate a stop-loss exit around $1.90, which is slightly below the newly established resistance-turned-support at $1.95.