Week 02/04 - 06/04

Scroll to the bottom of this post for a crucial information. :)


STI

STI has been consolidating and trading within a range for the past 1 month plus.
STI is still well above the 20MA which means the market remains bullish.
Most likely if STI breaks below the 50MA, it will mean a change of trend.
For now, nothing much can be derived from the charts.


HSI

HSI could be moving in a channel with critical support of around 20200 levels to watch out.
It could also have a descending triangle pattern forming but its still too early to confirm this formation.
If HSI were to breakup/breakdown of the parallel channels, it could show its direction.


Yanlord

Yanlord recently bounced off its support of 1.24 which was a previous strong resistance.
Currently, Yanlord forming a descending triangle (watch red lines).
Yanlord also has a mid-term upward sloping trend line support (purple line), which is also close to the 1.24 level.
Conclusion will be that the level of 1.24 is very critical for Yanlord.


Cosco

Cosco has been resisted by its 200MA for 1 month plus.
Currently, a descending triangle is being formed in Cosco.
Support to watch out for will be around 1.12 level.
A bullish signal shown will be that its 50MA recently cut above its 200MA.


YangZiJiang

YZJ is consolidating around the 1.325 level which coincides with the 20MA.
YZJ has a good support at around 1.215 level.
As for now, nothing much can be derived from the charts except that the 50MA is running up to act as a support.


Hi-P

Last week I highlighted that Hi-P is facing major resistance at 1.04.
http://tradeforthebetterfuture.blogspot.com/2012/03/hi-p-stx-osv-requested-by-pk.html
True enough it was not able to break the resistance.
In terms of Fibo Projections, it has a resistance of 1.04 as well.
Currently, it could be supported at around 0.97 level.
My speculative view: If Hi-P is able to bounce of 0.97 support it has good potential to go to 1.095 level.
Disclaimer applies.


STX OSV

STX OSV is still consolidating within in a tight range as mentioned last week.
http://tradeforthebetterfuture.blogspot.com/2012/03/hi-p-stx-osv-requested-by-pk.html
STX OSV is supported by a upward sloping trend line (green line).
This counter remains bullish in the long-run.

CWT

CWT is currently consoliodating.
Levels to watch out will be 1.26 and 1.32 for either breakup/breakdown.

Something big is going to happen soon. WHY?
Watch those big caps - DBS, OCBC, UOB, Kepcorp, SGX, Sembmar, Sembcorp, CityDev, SIA.
They have unusual high vol on Friday.

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.

Shorting counters

For now, I'm looking to short for short-term only.
Counters - DBS, Cosco, Yanlord

Do note that overall trend should be still bullish.
Shorting is for quick profits.


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Update Dated 01/03/12 7:42pm
Yanlord --> Close: 1.32, Open: 1.375, Highest: 1.39, %Change: -4.3%
Cosco --> Close: 1.17, Open: 1.2, Highest: 1.20, %Change: -2.9%
DBS --> Close: 14.18, Open: 14.19, Highest: 14.35, %Change: -0.1%

Call was made yesterday night. Could have earned some $ if vested.
DBS also could have taken some profits but depends on entry price.

Ethan - yanlord

Yanlord broke out of the downward sloping trend line and coming close to a support turned resistance.

If the overall market remains good, then chances of it breaking it is high (very dependent on SSE).

And the charts show that it has a higher high and higher low, which is a good thing.

Stop loss will be around 1.24 or lower.

@ethan hope you can interpret more from the charts. :)