City Developments

Refer to my previous technical view on CDL (7th August). The stock's price has since risen 7.2% to close at $9.70 on last Friday. So what's next? The various weekly technical indicators which I used have just started to turn up and although profit-taking can be expected in the near term, any pullback will be a good opportunity for those who are bullish in this stock for the medium term to accumulate more.

Resistance: 9.75 / 10.00 / 10.30
Support: 9.45 / 9.25