Tuesday, February 25, 2020

SATS: Sellers still here? Price 4.38. Weakness may still continue!


Just about 3 weeks back at the beginning of Feb, we saw SATS approaching the 4.55 – 4.60 support level dangerously…


It has been holding above this key support for the longest time since Aug 2016 which is more than 3 years ago..


So any key price actions near here would be meaningful to watch..


Since 2018, it has been forming lower highs which is a sign of weakness from the charts and just recently,


Trend indicators were also starting to point down..


Hence, when we saw some bearish price actions on 3 Feb 2020, some downside targets were drawn as seen below..


First target towards 4.30 first.. see what I mean…





After the first spot, over the next few days, we managed to see more selling pressure towards 4.40..


And then some short covering seen before a quick rebound…


It rebounded all the way back to 4.60 which was the initial support it had broken…


However, can see that sellers were still lurking and selling pressure continued..


This initial 4.60 support would now be the resistance for price to push lower.


Targets were reiterated to the downside again with near term support now revised to 4.40, See what I mean…


From the chart below, you can also see a Bearish Rounding Top pattern drawn which can point to a downtrend in progress, especially below 4.60 RESISTANCE....






Fast forward to today, we are finally seeing some actions again with sellers attempting to push below the 4.40 support..



Currently at 4.37 where buyers are still trying to hold on and recover some ground back above 4.40 BUT seems like not able to..


Awaiting to see more bearish price actions below 4.35 which can see more selling momentum coming back fast..


Next downside target to 4.20 then 4.00 can be on the cards if that happen..


Short term trend indicators still looking negative for now..


Watching to see what happen in the next few days…


More for shorts with CFD to ride further weakness… would not want to be holding on to long positions blindly for now…


See where we are below now…


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Wednesday, February 19, 2020

Ascendas Reit: A bullish candle seen! Then then upside started. Price 3.30. Can the next phase of uptrend continue??


Just about 3 weeks back, we spotted a really bullish candle in Ascendas Reit..


This bullish candle was something like a “Hammer” and we saw it right at the support at 3.05…


This showed that buyers were ready to defend the support at 3.00 – 3.05 readily and perhaps even take price higher…


Price was at about 3.11 then and hence we drew some upside target with a potential break above the KEY 3.15 RESISTANCE level..


First target to 3.30 as drawn..


We were expecting some upside, BUT this 3.15 RESISTANCE WAS STILL key…


In fact, we really need to get pass that convincingly with some bullish price actions in order for the uptrend to continue…


We have been capped below 3.15 since July last year, so it is like 6 months below and sellers were already pushing it down from 3.15 so this level is KEY…


But this Bullish hammer candle on the 28 Jan 2020 looks promising. See the candle below highlighted in green!



















A few days after, we have indeed seen the bullish move above 3.15 resistance..


Target was reiterated again to 3.30 and even higher to 3.50 as seen  below..


Uptrend looks good on this bullish move above 3.15 and looks set to continue..


Finally, we have cleared the 3.15 resistance after more than 6 months of testing it and failing to do so..


Moment was captured as it happened..


But we were expecting some profit taking near 3.30 first…






Fast forward to today, we have seen our first target at 3.30 hit over the past week..


Now seeing some profit taking at 3.30 which is normal given the ride we have seen…


However, uptrend still looks ok for now with some new support at 3.25 over the past week..


Awaiting more bullish price actions which can see our 3.50 target on track as reiterated…


So far, sellers are still selling near here but buyers may be ready to take it up the next step soon..


Watching! See where we are below now.


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Tuesday, February 11, 2020

Mapletree Log Trust: Seems to be defensive despite current virus pandemic. Price 1.88. Can the uptrend continue?


Just about 1 month back at the beginning of the year, we saw some bullish actions in Mapletree Log Trust.


The uptrend was firm over the past few months but it was just not able to break the 1.75 key resistance since Oct last year…


This was before CNY and also before the escalation of the current virus pandemic.


Some upside targets were drawn towards 1.90 as seen below when we finally saw some decent price actions..


Buyers were finally ready to take it higher and sellers cannot withstand anymore.


Trend indicators were also looking positive on this move pointing to a strong uptrend..…


Let’s see what happens over the past few weeks as the virus situation escalated to current orange code.





As the virus situation getting worst, we saw a move higher with an attempt to break the 1.80 level too..


Target was reiterated to 1.90.


Despite market selling off on fears of the virus spreading further on Singapore shores, this counter was surprising still quite defensive.


Can see that buyers were coming back to buy on dips on any slight fall which kind of supported prices..


Perhaps, this is due to the defensive nature of industrial Reits where tenants have longer tenures and hence less likely to be affected compared to the retail sector where Retail Reits got hit badly..





Fast forward to today, we have already hit our 1.90 target last week as when first drawn..


There is some profit taking seen for now which is normal given the more than 8% gain when it was first covered…


However, seems like there is also some good support returning near 1.85 over the past few days..


Here is also where the 20 day Moving average is also which can lend some technical support..


Some selling seen near 1.90 -1.92 for now but we may eventually attempt to push higher towards revised target at 2.00 as seen below..


Watching for now to see if the upside can continue further while protecting profits…


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Tuesday, February 4, 2020

Comfort Delgro: Selling still continuing? Price 2.14. May still see weakness amidst virus epidemic..


Just about 2 months back, we saw Comfort Delgro breaking the key 2.40 support that it has been holding above for more than 6 months…


In addition, there were also some signs of the downtrend starting to take shape


From the moving averages, we were seeing some weakness, expecially with some bearish crossovers seen..


Buyers were unable to take it above the 2.45 resistance level and sellers just came back to take profit…


Hence, some target were drawn to the downside with target to 2.25 then 2.10 eventually..


See what I mean below…


Sellers seem to be ready to push price lower after each minor consolidation which is not a good sign





A few weeks passed and there were some consolidation above the 2.30 support…


However, trend was still pointing down eventually we saw the 2.30 support gave way too..


This was captured when it happened live as seen below..


Downside target were reiterated towards 2.10 again as mentioned above..


Note that this was before the virus epidemic currently happening..


Targets were mainly due to the charts showing weakness…





Fast forward to today…


Over the past few days we have seen more selling pressure with the virus epidemic escalating..


2.20 temp support has given way last week and seems like it is about to hit our target at 2.10..


Yesterday’s low was at 2.11 before some short covering return..


Transport business is likely to be hit with lesser tourist coming to Singapore and private hire drivers are already feeling the brunt..


On any further bearish price actions below 2.10, targets can be revised lower as seen…


Still in watchlist… cautious long position for now..


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Tuesday, January 28, 2020

ParkwayLife Reit: A beneficiary to current virus situation? Price 3.54. Uptrend to continue despite market weakness...


Just about a month ago, we saw ParkwayLife Reit approaching the key 3.30 resistance bullishly..


It has been trading below it for more than 2 months and seems like it was ready to test that level and push higher again..


Moreover, from the trend indicators, it was looking positive too with the uptrend set to continue on more bullish price actions…


We have indeed broke the 3.30 resistance and that was the new support..


See what I mean below…


Clients were informed by WhatsApp too as seen below, first target was to 3.50..








Over the past few weeks, we started to see some profit taking at 3.40 where sellers were quick to defend that higher resistance..


It was pretty much back to some consolidation from 3.30 to 3.40 for about 2 weeks…


But buyers were not letting go either. They were holding on firmly and coming out on dips to push price back above 3.30…


Target to the upside was reiterated with a potential break above the 3.40 level about 2 weeks back…


This was before any escalation of the Wuhan virus which has now affected the world and in global headlines..


Uptrend was still intact as seen  below. Target reiterated to 3.60 as seen below....







Over the past few days, we have seen the 3.40 resistance broke on more confirmed cases of the Wuhan virus in Singapore.


Today, a move above 3.50 psychological level seen also which can see more short term upside.


Uptrend looks intact with 3.50 support holding for now…


This counter can be a beneficiary to current situation as it is in the healthcare sector..


A snippet of what it does and why it is moving up despite the general market being weaker and instead selling off with STI down 83 points now…


“ParkwayLife REIT invests in real estate and real estate-related assets that are used primarily for healthcare and healthcare-related purposes, including hospitals, healthcare facilities, and real estate and real estate assets used for healthcare research, education, and the manufacturing or storage of drugs, medicine, and other healthcare goods and devices.”


Target reiterated upwards further as seen in updated chart below, still watching this counter for now closely and protecting profits while riding....


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Monday, January 20, 2020

Mapletree Ind Trust: Uptrend don't look like stopping. Price 2.81. Taking a rest for now.


Just about 2 weeks back, we saw some really bullish actions with Mapletree Ind Trust approaching the 2.62 resistance level..


That was just after the new year celebrations and it seems like all the Reits will slowly gaining strength..


We have been trading below this key resistance level since Sept 2019 for about 4 months but buyers don’t seem to be giving up in term of attempting to break this level..


Some alerts that were set were triggered when the move came..


A chart was captured with some near term target drawn to the upside.. trend indicators looked bullish then..


Target to 2.80 for a start which is about a 6% potential upside gain, see what I mean below..







A Whatsapp Message was broadcasted to clients as seen above and a few days later, this stock started pushing up as per our target..


It managed to break the 2.70 temp resistance too and buyers were going strong..


It was forming higher highs each day which is definitely a good sign of strength,


Upside target was revised higher again as seen to 3.00 with the eventual potential clearing of 2.80 first target..


Uptrend indicators were still looking strong and pointing to more upside..


That is like another 10% gain from where we were last week from revised target…






Fast forward to today, we have managed to hit our first target at 2.80… and also break above it..


Currently at about 2.82 where we are seeing some good support coming back at 2.80..


Uptrend still look firmly intact with this level holding and moving average positive,


Targets are reiterated again to 3.00 for now.


We may see some consolidation above 2.80 first for now before an attempt to push higher again…


Watching… looking good and definitely still in our watchlist to ride further


Protect profits while riding.. see where we are below now..


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Tuesday, January 14, 2020

Keppel DC Reit: Uptrend still going strong? Price 2.23. Buyers still holding well for now!


About 2 weeks back at the start of the new year 2020, we saw Keppel DC Reit approaching the critical 2.10 resistance..


This level was key as we had been consolidating below it for about 4 months since Sept 2019..


There were already some signs of the uptrend continuing further with moving averages looking good.


Awaiting some bullish price actions at 2.10 which can lead the next phase..


Finally, it came on the 3rd of Jan 2020 and we were prepared..


See the chart that was captured where targets were drawn for more upside towards 2.30 first target which is about an 8% potential gain..





Over the next few days last weeks, we started to see prices pushing higher


Gradually towards the 2.20 level where some slight profit taking set it…


This was normal given the rapid spike over a couple of days..


Target was reiterated again when it was at 2.18 with a potential break above the 2.20 level eventually last week.


Buyers seems to be holding prices well and any profit taking was met with more buying pressure..


See chart below where target is reiterated…




Fast forward to today, we are CURRENTLY seeing a firm attempt to break the 2.20 level and also push away from it..


Looks like our 2.30 first target as drawn 2 weeks back is on tracked and  may touch soon…


Not only that, we have revised our target higher, probably to 2.50 but we may see profit taking along the way.


Would be good to hold and ride while taking steps to protect profits.. see where we are below now!


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Wednesday, January 8, 2020

Mermaid Maritime: A 22% gain last week caught.. then some profit taking seen. But is the upside really Over? Price 0.141.



Just about 2 weeks back on 27 Dec 2019, we saw some really bullish actions in Mermaid Maritime with it attempting to push higher towards the 0.120 resistance..


This level was key as it had been trading below since Sept 2018, so any firm price actions above it can see the upside reversal take shape.


More importantly, there were also some signs of trend indicators pointing higher


Pointing to a reversal from the downtrend seen since 2017 to FINALLY an upside reversal…


Hence, some upside targets were drawn.. (See what I mean below)


1st one to 0.120 which was where we were expecting some profit taking but more importantly,


Above that key level where we can really see price closing the gap upwards towards 0.150..


That is like a 22% upside gain…. This was before anything happened on 27 Dec 2019…




When the market opened last week on Monday,


THE MOVE came… It attempted to break this 0.120 as mentioned above..


A price alert that was set previously came and we were notified at around 0.122 where I looked at the chart again, see below..


Clients were also notified by WhatsApp Broadcast of this move as it happened. (see Whatapp message below)


Target was reiterated again as it happened and we capture that very moment at 0.122 in the chart.


It was indeed some bullish price actions where buyers started to just grab fast and volume was strong too…


And with prices indeed pushing higher towards 0.150 as per our target…


Up it went by 22% as per our target drawn before it stopped and some profit taking started happening…









Fast forward to today… wanted to do a quick technical analysis again…


From the updated chart below as of today, we have been consolidating from 0.135 to 0.15 for more than a week after the profit taking seen at 0.150…


But it seems buyers are still coming out to buy on dips near 0.135…


For now, uptrend still looks ok from trend indicators but we need to see more bullish price actions above 0.150 for the next phase to come..


Where target can be to 0.170 – 0.190 next as drawn below..


So far not yet as market has been weaker again over the past few days..


Well, it may attempt to test the 0.150 resistance level again and we shall see, this stock is definitely still in my watchlist fyi.


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Thursday, January 2, 2020

AEM: Uptrend continuing after a rest? Price 2.07. Seeing actions returning finally after a month...


Following up from previous blog post a month back when AEM was trading around 1.88,


it was mentioned that Uptrend may not be over.. See post here again >> http://singaporetradinginsights.blogspot.com/2019/12/aem-attempting-to-push-higher-price-188.html


We were expecting a move above the 1.90 level first… that was where selling was happening then.


Target was reiterated to 2.10 after the first initial 1.90 target..


Let’s see the chart below again.


Over the past few weeks, there seems to be some consolidation but this stock was still in our watchlist all along..


Uptrend was still looking good though there was some profits taking near key resistance like 1.90 which was normal…





We managed to break the 1.90 resistance and headed towards 2.00 where saw some profit taking returning again..


Price actually retraced down towards 1.85 – 1.90,


but some bullish reversal actions were spotted again last week


It was attempting to head back to the key 2.00 resistance level and we were expecting that to give way soon, just not too sure how soon..


As such, targets were reiterated with a potential move above 2.00 with target raised to 2.20 as seen below..


Trend indicators were pointing to a strong uptrend also then..





Fast forward to today, indeed we have managed to see some bullish price actions across the 2.00 key resistance level..


In fact on the last day of the year 2019, we were watching this key level and clients were notified on Whatsapp as it happened..


Today, seeing a push higher, away from the 2.00 level which can be a good thing..


As long as we see the 2.00 hold as a new support, uptrend can still be intact with target revised as seen..


See where we are below now..


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Friday, December 27, 2019

Bumitama Agri: Still pushing higher as per revised targets? Price 0.78


About a month back, we saw Bumitama Agri attempting to break the 0.70 resistance level…


That was also where the downward sloping channel resistance was, so any move up above that price level can be a good reversal signal


Upside target was drawn towards 0.75 first as seen below..


From the moving averages, a longer term uptrend reversal still needed more confirmation,


but the short term uptrend was looking quite bullish with it trying to find a new high and with 20 day MA reversing up, crossing above the longer term MAs fast..


See below chart what was seen then..







Over the next few weeks, we started to see it pushing higher toward our first target that was finally hit at 0.75.


Some profit taking set in which is normal given the 6% gain in a few days..


Upside target was reiterated again towards 0.85 if we do see more bullish actions above this critical price level from 0.75 – 0.76…


See below target..


Trend indicators were still looking favorable though some consolidation expected after the run…





Fast forward to today,


We managed to see some consolidation as mentioned below 0.76 over the past 2 weeks..


Sellers seems to be defending this level and buyers were just not ready to take it up further..


Target as drawn previously was still intact as seen above and just waiting for the move…


Today, FINALLY, we managed to see some bullish price actions returning, with a firm move above the 0.76 level..


See below chart where we are today now…


Some short term upside still good to go where we may attempt to break the 0.80 level to push towards 0.85 as per target..


Watching…


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Friday, December 20, 2019

UOL: The start of its Uptrend continuing? Price 8.23. Looking bullish!


Just last month, we saw UOL approaching the key 8.00 resistance..


This was definitely a key level to watch as we have been trading below this level since June 2018 and so far buyers have not been able to break upwards…


There were already some signs of the uptrend taking shape from the trend indicators so was expecting a bullish move soon..


Just not so sure how soon..


But if we spot any bullish price actions above here, it can be a good signal..


So this counter was definitely in my watchlist for more upside..


Targets were drawn as seen below to 9.00 first…





Over the next few weeks, we have indeed broken the 8.00 but unfortunately, there was some consolidation again with it trading back to 7.60..


Sellers were out to take it lower on profit taking and also on some market weakness… however,


Some good support came back over the past few weeks at 7.70 and we were back to test the 8.10 level again..


Moving averages were looking good still despite the profit taking earlier…


Targets were reiterated with a potential move up again, see below..






Over the past few days, seems like we are seeing an attempt to push higher again…


Targets are reiterated as per below where the uptrend can continue…


It may be heading towards 8.50 – 8.60 first where there can be some profit taking along the way…


Finally some bullish actions returning after more than a year..


Watching to see how far this reversal can go…


See below where we are now…



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Friday, December 13, 2019

UMS: Uptrend still going strong? Price 1.01. A recap from previous Blog post!


We actually covered this counter on my blog more than a month back when it was around 0.855..




Back then, we had rallied all the way from 0.70 in late Oct 2019 and,


we were facing some obstacles when we approached the temp 0.86 resistance,


There was a slight retracement back to 0.80 as a result..


However, buyers were out to defend the 0.800 support level and a rebound was caught


Our upside target was revised further on this rebound as seen below..


To 0.90 first then ultimately to 1.00..


There were still signs of the uptrend going strong from indicators..




In a few days, we managed to break above the 0.900 psychological resistance and buyers took a breather..


It started to consolidate from 0.90 to 0.95 for about 2 weeks but the 0.90 support was holding strongly..


Again, with this level holding, upside targets were reiterated to 1.00 and even to 1.10..


See what I mean below…


That was even before any more was seen.


Price were holding firmly above the 20 day moving average which was one of the signal we use to gauge short term strength..


See where we were then, somewhere around 0.92…






More bullish actions followed subsequently as per targets over the past week…


We managed to hit our critical target at 1.00 a few days back and then some profit taking happened..


However, seems like we are seeing an attempt to break this level to push higher..


On more bullish price actions spotted, we can see the uptrend continue so this counter is definitely still in my watchlist for that,


For now, let’s see if we can hold above the 1.00 new support. Sellers seems to be still here to hold off any up ticks FOR NOW..


Watching, more upside not ruled out !! see below chart where we are now!


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Friday, December 6, 2019

ManulifeReit USD: Quite a good run. Is the upside over? Price 1.00


Just a month ago, we saw some pretty bullish reversal actions in this counter ManulifeReit USD…

It has been trading  below this 0.92 resistance level for about 2 months and buyers were just not able to break through..

However, the move finally came somewhere around 8 Nov 2019…

The uptrend indicators were also looking positive then and more short term upside was expected..

Hence some targets were drawn as seen below.

Towards 0.98 first where we would expect some profit taking..


A few days later, we started seeing prices pushing higher towards target..

From 0.95 to 0.96 then, to just last week when it was nearing our 0.98 target finally..

The uptrend looks good and target were revised higher on the potential break of the 0.98 resistance last week as seen below..

We were expecting buyers to test this level and break through.. see what I mean.. before it happened…


Fast forward to today, we have indeed broke then 0.98 resistance..

In fact, the 1.00 resistance is key for now as we are attempting to clear it..

Any firm bullish actions above can start to see the uptrend continue towards our higher revised target, watching..

Perhaps to 1.05 -1 .10 next… let’s see..

Quite a good run over the past 1 month… more upside to come?

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