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.

Requests - NOL & GLP

NOL

NOL is currently at a very strong support with a rising trend line support and also the Fibonacci retracement 61.8% suppoort.
Support to watch will be around 1.18 level which is also the prior resistance turned support for now.
Breaking this support may mean NOL is bearish and may come down to 1.1 level.

GLP

GLP today shown a bearish candlestick which also engulfs yesterday's doji candle.
The classical support of 2.01 may not be able to hold GLP anymore although there is the 100ma enhancing the support level.
Those looking to long this counter may want watch the support level of 1.87 - the previous resistance turned support + Fibonacci retracement 50% + 200ma support.

Few counters to highlight

Jardine C&C

GLP

Sakari

19/03 - 23/03

Continue to watch
1) NOL - Breakup from the symmetrical triangle but facing resistance of 1.475.
2) STX OSV - Break up from resistance of 1.76 with high vol.
3) Sakari - Head & shoulder still forming.
4) CityDev - Haven breakup/breakdown from the long white candlestick.
Their charts has been posted on Thurs night, thus I'm not posting it again.
Will be highlighting other counters.

Genting SP

Genting SP shown a shooting star candlestick with avg vol.
Currently Genting SP is resisted by the 200MA.
Genting SP is also forming a very big symmetrical triangle - breaking up/down will show its true mid-term direction.
In the short run, watch for confirmation of the shooting star on Monday. And cut loss will be above 200MA.

GLP

GLP catch my attention with his unusual high vol on Friday.
Also, a shooting star look alike candlestick is shown.
GLP cannot not close below 20MA, else more selling pressure will kick in.
Those vested in longs, set a trailing stop loss.
For those looking to short, watch for confirmation on Monday.

SIA

SIA is still trading within the range of 10.5 - 11.1.
On Friday, another hanging man candlestick is formed.
Watch for confirmation on Monday to short.
Cut loss region will be above 11.1.

Week 20/02 - 24/02

STI has shown weakness for the past few candles - hovering around the Fibo 61.8%.
Watch for the turning point for STI.
I can't say for sure that STI will turn but the probability is extremely high for a correction next week.
STI could be consolidating to move higher too, so trade with a plan.

SIA is a super weak counter. The highlight region will be acting as an island resistance.
If market turns down, chances it may go lower to find support at 10.5.
But do be careful of critical resistance level of 11.1, if it is breached with high vol, do cut loss.

Indoagri shown a long tail shooting star on Thurs with high volume.
This counter could be in for a turn to the downside.
Cut loss level will be above 1.675.

GLP has shown a breakout from 2.04 resistance level and today moved up with vol.
It has a bullish flag pattern formed. It can move higher to around 2.14 using the fibo projections.

19/01

Counters to look out for.

GLP

GLP shown a confirmation today from yesterday shooting star candle.

But do be careful as a inverse H&S is spotted. And long-term upward sloping trend lines.

Stop loss will be the yesterday shooting star candlestick high of 1.91. You can choose to add abit of  buffer which depends on your risk appetite.

UOB

UOB shown 2 trend reversal candle yesterday and today. Shooting star and doji candle. If you're looking to short, wait out for confirmation.

The resistance at at 16.93 is expected to be strong - the long-term & short-term fibo levels coincides at that level.

UOB is currently supported by the short-term fibo 38.2 (or 61.8) level and the 100ma. If you're looking to long, do look for this level.