Week 23/04 - 27/04

STI

STI still remain in the big range of 2905 - 3036.
In terms of weekly chart, rounding top is seen.
The market sentiment still remains bullish due to the earnings season as well as the dividend season.
Correction is expected to come soon.
Strong support to watch will be around 2870 (100MA, 200MA and Fibo 61.8% level)

HSI

HSI looks short-term bullish as of now - managed to close above the 78.6% Fibo as well as 50MA.
It moved higher after touching the upward sloping support trend line (Red line) & 200MA.
HSI also shown a golden cross of the 100MA & 200MA.
Any long positions please watch when it comes close to the purple sloping down resistance line.

Wilmar

Wilmar cut up the 20MA on Thurs but went back below the 20MA on Friday.
It previously managed to moved up from the Fibo 23.6% Price level 4.77. Also highlighted http://tradeforthebetterfuture.blogspot.com/2012/04/week-0904-1304.html previously.
If Wilmar is able to go above the 20MA on Mon & Tues, there could be some short-term bullishness.

FNN

F&N  remains overall bearish - looking at the all the Moving Averages.
It managed to be still supported by the purple trend line support.
Resistance to watch will be round number 7, which might be a strong resistance for F&N.

Swiber

Swiber has been dropping after the spike in Feb.
As of now, Swiber is being supported by the 100MA.
Watch Swiber at the 200MA, it could be a strong support.
However, if this level is compromised, then do cut.


Interra

Interra looks bullish currently due to the rising moving averages.
Interra seems to be resting after the recent spike.
In terms of Fibo projections, if its rally is possible to continue, expect it to travel to around 0.60.
The purple sloping trend line could be a support trend line, else watch for the 50MA.
However, I do not advise buying now. Wait for it to have some profit-taking towards the 20MA before attempting to punt on it.


BAC

BAC has been falling from the peak which I highlight few months back http://tradeforthebetterfuture.blogspot.com/2012/03/bank-of-america-bac-requested-by-gn.html
BAC currently has a sloping down resistance.(Purple line).

Reason why I post to short on Thursday night:
1) It touched the sloping down resistance
2) BAC was consolidating within the black candlestick formed on 13/04/12. It managed to breakup on open but seems to be a fake breakout (which means more bearish). For this I was on the minute chart.
I wanted to short at a higher price but it didn't managed to go higher after dropping from the top on Thurs.

As for now, BAC looks bearish still.
If BAC were to fall again on Monday, a 3 black crow candlestick formation will be seen.
So I won't advise to catch a falling knife.
Maybe the Fibo 61.8% level of 8.12 could support the fall


Tiongwoon

Tiongwoon seems to be have some profit taking after the strong spike with high vol.
On Friday, a long upper shadow is seen and it ended as a doji.
I would advise to enter Tiongwoon when the price and the 20MA is closer (maybe 0.29?).
If Tiongwoon is to break 0.27, I believe it won't be so bullish anymore.
I may show horse back cannon now. But on 09/04 I saw the sudden surge in volume and I know a big rally could be coming.
Conclusion: Watch Tiongwoon daily transactions volume. 10k and above is relatively high.


Small advise to all.
This year the market is expected to remain bullish.
Therefore, its alright to enter strong companies (eg, blue chips) at around its 200MA and HOLD.
Of course do expect that the 200MA might be broken for awhile before coming back.
All the best to all. :)
DISCLAIMER APPLIES HOR!!