Stock Market - Technical Analysis

Jaya Holdings

2010-09-22T01:09:00.003+08:00

Jaya broke out with volume today. Looks like more upside to go.

Noble

2010-08-19T10:03:00.002+08:00

Noble is turning down after hitting 20MA resistance but it may be supported at 1.60 by the 200MA.

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2010-07-20T00:00:00.000+08:00

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Olam

2010-07-18T13:52:00.004+08:00

Olam has pulled back a little to the 20ma and is now just above the 200ma and the uptrend line. If it bounced back up above these supports, then it may test the resistance of 2.67 again as it forms an ascending triangle.

CityDev & ST Engg

2010-07-15T22:42:00.003+08:00

CityDev broke out today and is now at the downtrend line. If it goes above the downtrend line line, then the next immediate resistance will be at 11.58.

ST Engg has now pulled back into the buy zone, so can put on the watch list. The long term trend is still up even though it has been going sideways over the last 6 months or so.

SMRT

2010-06-28T23:56:00.002+08:00

SMRT was triggered for a Long swing trade today after 3 bar drop back to 10MA and turning back up with CCI also turning back up from -100.

Capmallsasia and HL Asia

2010-06-22T01:14:00.003+08:00

Capmallsasia broke the shorter term downtrend line today, so likely to head towards near term resistance of 2.32

HL Asia also broke one of the downtrend lines today. If it manages to stay above, then may head for 3.78

Capmallsasia

2010-06-18T14:52:00.003+08:00

Capmallsasia have broken the long term downtrend line and now testing resistance at 2.18. If this breaks and is also able to clear the shorter term downtrend line as well, then it is likely to head higher, especially with the ascending triangle pattern that is currently in formation.

STI

2010-06-04T15:51:00.006+08:00

Have been busy this whole week and will be so till mid next week. Will try to resume posting nearer end of next week. In the meantime, STI likely to remain bullish for the next few days heading towards 2860 - 2880

F&N

2010-05-30T22:46:00.003+08:00

CSI system shows buy signal for F&N as it broke out of the ascending triangle (posted earlier here). If it can break and stay above 4.9, there could be more upside. But given current volatility in the market, it may head back down below the down trend line.

OCBC and F&N

2010-05-27T00:47:00.004+08:00

Weekly chart for OCBC shows a double top pattern formation and the daily chart went under the 200MA yesterday, tested it today and had a huge sell down at the close - ie not a good sign, especially since STI was up 1.7% today. It is now at its support point and if this does not hold, it may head towards its next significant support at 7.44. But then again, if the market sentiments are ok tomorrow, then a quick 1-2 day opportunity counter trend trade may be possible.

F&N looks to be in a symmetrical triangle formation and it is nearing its apex. Though it is generally a continuation pattern, ie should be breaking upwards, it may also break down if the market goes bearish.

HL Asia

2010-05-26T01:14:00.004+08:00

Another day of huge decline in the markets across the regions. And there are now quite a number of local counters that are now below their 200MA - ie technically regarded as bearish. One such counter which have "fallen off the cliff" over these last couple of weeks is HL Asia. It just went right through the Fibonacci 38.2% retracement and closed just below its 200MA. Looks like it may just head further down to test its next support at 2.86.

What it has gained in the last few months just got wiped out in a couple of weeks. This just goes to show what fear can do, which means the bears are usually able to make their gains in a much shorter time compared to bulls.

Capitamall

2010-05-20T01:07:00.003+08:00

Capitamall has now pulled back to the support level of 1.89. If this support holds, then can consider a long entry. Long trigger will be at 1.93 with a stop at 1.88. Again will need to watch the general market mood as broad market sentiments will always affect a stock more than the other way round.

SembMarine

2010-05-19T01:01:00.002+08:00

Keeping watch at SembMar for possible short if it gets up to and turn down from resistance of about 4.20.

Kepland, Yanlord and Ramba

2010-05-16T23:22:00.004+08:00

With the uncertainty in Europe and DJIA dropping -162 points on Friday, we may open on the weak side tomorrow. Below are a few counters who are may be candidates for shorting.

Kepland:

Yanlord:

Ramba:

CityDev, Ezion, SIA and Capitamall

2010-05-14T01:15:00.004+08:00

As mentioned yesterday, CityDev and Ezion may present shorting opportunities and it did arise today. CityDev candlestick today is an engulfing bear, meaning there could still be more downside. But still need to watch out for the 200MA being the support and also that the volume today is lower than yesterday's.

Another counter put on watch list for shorting is SIA.

Though current climate may present slightly more shorting opportunities, there are still some counters showing strength. One such counter is Capitamall which had been mentioned a few times previously. It had tested the 1.99 a couple times recently and it finally broke that resistance with volume today. If it manages to stay above this, then it is likely to head towards the next resistance of 2.14.

CityDev and Ezion

2010-05-13T01:05:00.003+08:00

Keeping a watch on a couple of counters for shorting opportunities.

CityDev: Currently at around the 40MA which may be a resistance. Its also close to the Fibo-50% level and CCI is high. In the event it does turn down, then have to watch if the 200MA will support it this time round as it fell through quite easily last week. But then again, it was back up above the 200MA quite easily this week as well.

Ezion: Made a wide range bar today with strong volume but it is also close to its 40MA. And if it does go through this, it may meet resistance at the 200MA.

STI and Cosco

2010-05-11T01:07:00.003+08:00

Although there was a huge rebound today due to the bailout actions in Europe, the STI had actually fell below the uptrend line due to the falls last week. And it is also still currently below the 50MA and may face resistance as it nears 2901. It may be a good idea to reduce positions during this rebound and look for weak counters (especially those below their 200MAs) to short as they meet their resistance during this short term period.

Cosco back up today but hit the 1.62 resistance for a third time over these past 4 sessions. Lets watch if it will be able to go above this to close the gap.

Capitamall, Cosco and Yangzijiang

2010-05-10T00:56:00.005+08:00

After the huge intra-day plunge in the US last Thursday, most of the counters in Singapore gapped down on opening. One of those was Capitamall but it recovered strongly all the way back up to close above the resistance of 1.89. Looks like there may still be some more upside for this if it manages to stay above the 1.89 resistance.

Another couple of counters on watch list are Cosco and Yangzijiang.

Swing scan list

2010-05-07T01:19:00.002+08:00

At time of this post, Europe is down and US markets are all down too, by at least 1.5%. So unless it gets better by the time the US markets close, chances are that tomorrow's opening will not be good too. In the event that the broad market turns positive, below are the list counters to watch for swing trades.

Yangzijian, CoscoCorp, Fortune Reit and Sunningdale

2010-05-06T00:53:00.009+08:00

Another day of big decline in the STI (-40 points), but this has also brought a few counters back into the zone for possible swing trades after their recent ascent. But then, safer to go Long if the general market improves. Some of the counters to keep a watch on are:

Yangzijiang: Showed some strength today as it opened below the 40MA but climbed back up into the buy zone and forming the bullish piercing candlestick pattern as well.

CoscoCorp: It gapped down and opened at around the Fibo 50% retracement level but then bounced back up a bit. So if it is able to clear today's high, then may consider going long since the 20 and 40MAs are still sloping up.

Fortune Reit: Hammer appearing with its close above the 40MA. There's a possibility this may go sideways as the MAs are topping off.

Sunningdale: Its also now into the buy zone with the doji candlestick appearing - a sign of indecision. CCI is also low at this point. If it clears today's high with the CCI turning back up, then going long is a possibility.

SIA Engg, Swing scan and Below 200MA scan list

2010-05-05T00:03:00.006+08:00

SIA Engg (as mentioned 2 days ago) looks strong as it moved higher today even though the general broad market went down a fair bit. However must keep watch as it may still be dragged down by the market tomorrow given that Europe and US markets had taken a dive at the time of this post.

Likewise the Swing scan list below is just to be placed on watch list given the weak market at this point in time.

Below is the list of some of those counters that are now below their 200-day moving average, ie can be considered to be weaker stocks.

Swing scan list

2010-05-04T00:32:00.001+08:00

List of counters to keep watch for possible Swing trades.

SIA Engg and GMG

2010-05-02T18:16:00.003+08:00

SIA Engg broke out of the symmetrical triangle pattern last Friday and if it can stay above the down-trend line for another day or two, there may be more upside.

Still keeping an eye on GMG as it is in the Swing trade buy zone and it has also bounced off the 50% Fibo retracement level.

Capitamall, SGX and Swing scan list

2010-04-30T01:11:00.005+08:00

Capitamall (last posted here) was able to stay above previous resistance of 1.89 despite the big drop in STI yesterday, indicating this counter has got strength. And this is evident today has it has moved higher (closed at 1.94). More upside potential in store as the next likely major resistance is at 2.14.

SGX has managed to stay up above the 200MA and the recent short-term up-trend line for another day. If it's able to clear today's high, chances of another upswing is there.

Below is the list of counters to keep a watch over for possible swing trades tomorrow.