Week 26/03 - 30/03

Genting SP

Genting SP did show its true direction on Friday due to the junket licenses given by the government.

However, its not advisable to chase already when the R:R is not as good anymore plus its a news driven rally.

It might be travelling towards 1.84 level.

Those who are willing to the take higher risks, than might want to enter at around 1.74 level.

UOB

UOB is currently trading within the long black candle formed on Monday.

Support and resistance to look out for will be 18.1 and 18.6 respectively.

Breaking either levels might really show its true direction because both are critical levels.

Support: It has a purple upward sloping trend line.

Resistance: It coincides with the Fibo 61.8 level.

 Yanlord

Yanlord broke its neckline of the Head & Shoulder formation on Thursday.

However, it managed to bounce off its previous resistance turned support levels of 1.24 and also closing slightly above the 50MA.

Breaking of the 1.24 levels will be bad for Yanlord as the H&S is in play as well.

Considerable actions: Long at support of 1.24 and execute double sell (cut + short).

Sakari

As mentioned last week that Sakari is having a H&S formation.

It has already breakdown from the neckline and H&S will be in play.

It has also breakdown the symmetrical triangle (not highlighted last week).

However, there's some buying pressure to keep it above the 50MA.

Those in shorts could look to cut loss at levels above the neckline (meaning this breakdown is a fake one).

Knowing that window dressing is around the corner, and many traders might enter for a small rally (resulting in slightly better vol next week). But its better to believe in such terms given but rather look at the charts for answers. :)

Be safe and all the best in trading.