Charts for Week 28/05 - 01/06

Straits Times

STI had a small rebound on Mon-Tues because it hit a strong support region - the upward channel support as well as the Fibo 61.8% support.
However, all gains were returned on Wednesday, after a late sell-off in US markets on Tues night.
The rebound wasn't strong enough to kick the bears away from attacking & it came back hunting.

With fears about Greece leaving the European countries, investors are choosing to lock in their positions and prefer to stay sideline until markets stabilize.

The support at 2760 is expected to be a critical support and must not break, else another wave of massive selling might be kicked in.
Breaking this support will send STI to new lows for year 2012 and will test its previous low of 2600 region.


GLP

GLP closed on Friday with a shooting star look alike candlestick after touching the upper band of the downward channel.
Also, GLP seems to have a Head & Shoulders pattern forming with the neckline at around 1.92 (purple horizontal line).
If GLP were to fall from here and break the neckline, there's a potential of it falling towards 1.755 level.
However, there is a support at around 1.86 as there will be the 200ma and the 50% fibo level to support it.

The light blue horizontal line is the price that I will look to short already - using my method which is still under testing.


Cosco Corp

For Cosco Corp, there's nothing much to show except highlighting past historical supports.
Several levels to take note are drawn in the chart above.

Olam

Olam looks very bearish.
I went into the past 10 years data for Olam and I saw a support in March 2008 which it managed to bounce off and went higher.
The level where it bounced off was at 1.62 which is very near to the closing of Olam on Friday (1.655).
If this doesnt hold, then it will be the fibo support at 1.53 level.

Capitaland

Capitaland managed to hold above the round number of 2.4 for the past few trading sessions.
2.4 is also the fibo 78.6% support for Capitaland.
Best action for this counter is to wait for break up/break down.
Breaking of 2.4 will send Capitaland to test its previous support of 2.28.

Osim

Osim broke down of its upward sloping trend line support but it seems be well support around that region.
If Osim is able fight its way back to above the trend line, it might still be bullish for Osim.
Breaking down of 1.63 will most likely change the trend of Osim - most likely if STI breaks down.

SembMar

SembMar seems to be supported by the 200ma and the Fibonacci 38.2% level.
In addition, the Oct 2011 highs also act as a support - possible resistance turn support?
SembMar will continue its fall if 4.39 fails to support.

Amazon

Amazon had a super big gap up around 1 month ago due to its Q1 earnings beating estimates.
However, the effect followed for a day and died off.
Currently, it looks bearish and is within the rising window support (a very big support region).
I can't say for sure whether it will move down to cover its rising window support.
There's a good support at 208 levels - few fibo supports & March 2012 peak.
However, if overall markets' sentiments remain bearish, then I believe the support won't hold and we will only see a small rebound around that region.

Counters that ALOT of people will be interested to buy & their support levels.
1) Wilmar - 3.65 next support; 3.4 strongest support
2) Sakari - Fibo support of 1.355
DISCLAIMER APPLIES~~~
I never say buy ar!! Just let you all know the levels.


Have a great weekend ahead.