City Â Development (CDL) has a gap down today from $13 and closing at $12.58; remaining on the low side for the day.
The volume is fairly high and a bearish Tekan sen – Kijun sen cross is confirmed.
Support is currently at $12.29 from the Chikou Span which coincides with the the kumo support.
A drop below this level will see the shorts trying to push it down to the range at $11
Is the drop for CDL the first sign of the increasing supply at the property front?