20/01

Dow Jones

When Dow Jones(DJ)  has successfully break up of the long-term downward sloping trend line (Blue Line), it was a signal to be ready to long.

Currently, it has broke the support turn resistance trend line (Red Line). If this line can support DJ, it would mean that DJ will be in a long-term bull run.

Actions: Long near the support (Red Line) & cut loss if it breach the support with high volume.

Noble Group

Noble group has broke out of its trading range with increasing volume. Now noble is facing a resistance at around 1.29 which coincides with the fibo 38.2. Noble has a big gap to close, which will be very difficult.

Watch out for the 100ma which could be the next strong resistance level.

Action: Watch for any pullback to 1.23 to long. Cut loss will be below the upward sloping green line.'

SembCorp

Sembcorp is on a great momentum and has broke the support turn resistance trend line (Purple line). It has a strong resistance at around 4.75 which is near the fibo 78.6. 

But it has formed a hanging man look alike candlestick on Friday. If next Wed it has a bearish candlestick, it would mean a short signal. If SembCorp is to break the two lines (Purple & Red), it will have lots of selling pressure.

Action: Wait for bearish candle then short. Target Price for short is near the purple line. Cut loss will be around 4.6 which is the high of the hanging man. Do note that this action will be higher risk cause you're going against the strong bull trend in STI.