02 Dec 2010
EZRA
Capitaland
Now, lets look at Capitaland weekly chart:
Observe the swing trade and RSI within the range, when RSI rebounded off from 30%, price will rise to resistance. Expected time frame is about 2 months.
26 Nov 2010
YZJ has formed a bearish double top pattern despite its good results and FA.
Confirmation of pattern If next week YZJ trades lower than the closing price.
Confirmation of pattern If next week YZJ trades lower than the closing price.
22 Nov 2010
Suntecreits
Resting on fibo 38.2%
27 Oct 2010
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SGX
SGX is resting on 50% fibo and stochastic is in oversold region, a sign of rebound?
Do note that MACD is diving down and doesn't look good.
25 Sep 2010
Local banks closed with bullish reversal signal today. Will they be the next wave to lead STI higher?
I have been anticipating this for quite sometimes and it seems like going to happen soon.
OCBC
DBS
UOB
Ascendasreits
Property sector has retraced back to its support, look out for potential reversal signal!
Yanlord
19 Sep 2010
SSE
Shanghai index has declined after the central bank announced that they may increase interest rate. You may check out here for more info.
Currently, SSE is resting at its strong support level. If support breaks, we may see further downside.
Dow Jones Index
There's no reversal signal spotted in DOW yet. Thus, uptrend is still intact. However, Dow is trading near its resistance and it's time to be caution.
STI
Last week, STI has managed to break the 2 yrs high record where most of us were anticipating for it to happen.
STI has rallied for the past 3 weeks, no bearish reversal pattern seen yet. Thus, uptrend is still intact.
Banking sector has yet to move, and properties were trading sideway. Will they be the next wave?
STI can be manipulated by the big foreign market. Looking at DOW and Shang hai, we have to be caution in the coming week.
My personal view:
If DOW refuses to break its resistance, I am expecting a pull back or a sideway trading before STI makes a new high. 3036 would be the next support. If not, the psychological support at 3000. Second line stocks or penny stocks may be in play.
06 Sep 2010
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Last week, Asian and US market rebounded strongly and trading volume has also increased. These may due to the increase of lending to SME in China banks; the reports from US, pending home sales bounced back in Aug and jobless claims fell; and of course, the TA plays apart.
STI has found its strong support at 2920 and currently, it's trading near its immediate resistance. Can STI break through? This is the question where everyone is asking.
Most of the sectors has rebounded off and currently, the finance sector is still hovering at its support level and property sector has just started to move. Finance sector needs to lead the market for the next wave if not, the property sector in order for STI to have higher chance to break the 2 years peak of 3043.
Sector Performance
From this chart, you can see that the banks are lagging behind the active sectors.
Properties are also trying to catch up.
STI
Conclusion:
Investors are turning bullish as bullish sentiment kicks into the global market over the past 6 days which potentially increases the chance for STI to reach a new high. Market also seems to be more volatile than before with the mixed global economics news.
My take is to hold on firm on the current position for a potential breakout. If not, take half profit near the resistance of 3043 and ride the other half. Exit only when a reversal signal is confirmed.
Possible scenario: STI hovers around the resistance level between 3011(gap support) and 3043(immediate resistance) before reaching a new high.
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Citigroup has retraced to its major support which has been tested 4 times.
Looking at the indicators, stochastic is showing a charging upward movement together with the MACD momentum(anticipating a bullish crossover).
Good opportunity to go long with a confirmation.
