Monday, April 2, 2012/ Proshare Research

CAP experienced a bullish week to record 15.8% gain in the week against 0.8% gain recorded in the previous week.

The stock experienced a strong buying tendency as the stock opened with maximum points throughout the week. Also, MACD revealed the stock to be in bullish mode while the price moving averages also revealed a bullish trend in short term period.

However, the RSI showed that the stock has been overbought significantly buttressed by price position above upper Bollinger band.

To this regard, the emerging sentiments appeared mixed while the sustainability of the bullish trend is low as volume movement revealed a bearish pattern and consistent distribution in the week.

Technical conclusion on sentiments: the persistent distribution witnessed in the week revealed low sustainability of the bullish trend while the bargain momentum closed weak buttressed by the flat price position recorded in last trading session. Price correction may begin anytime soon. The chart below shows MACD, candlestick, RSI and volume.

http://www.proshareng.com/quote/CAP

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