Did Capitaland fall 3.44% because of Ex-Dividend, bad news or something else?
Probably a confluence of all three factors.
Reason #1 – XD today
Investors who were holding to collect dividends had no reasons to hold on anymore and decided to sell at the same time?
Reason #2 – Shook by this piece of bad news for property sector?
Singapore property investment sales tumble 74% to $1.75b in Q1 from previous quarter: DTZ
SINGAPORE – Real estate investment sales fell 74 per cent to S$1.75 billion in the first three months of the year from S$6.7 billion in the final quarter of 2015, said consultancy DTZ.
In terms of volume, or number of investment deals in Q1 2016 was the lowest since the third quarter of 2009, which was during the global financial crisis. Investment sales hit a low of S$192 million in Q1 2009, said DTZ in its report released on Monday (April 25).
Spot Reason #3
Capitaland C31 weekly chart; EOD 22 April 2016
Capitaland joins many other stocks that are terminating their long term trends.
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Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.
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