Joey Choy: Is $10 the gateway to the next breakout for City Dev?
City Development (City Dev) shares have been demonstrating sustained strength with a well-established long-term uptrend, with prices consistently holding above the rising 200-day and 100-day moving averages. More recently, prices have advanced toward the key psychological $10.00 resistance level after stabilising above the $9.60 support region. With earlier bullish signals still playing out, a sustained move above this threshold could signal continuation toward the next resistance level. Read on to find out where Joey thinks the next higher resistance level could be, and how one can leverage on this view using City Dev call warrants: https://www.warrants.com.sg/marketnews/highlight/todayhighlight/7827
*Joey’s view does not represent that of Macquarie’s
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