Wednesday, August 21, 2019

Starhub: Downtrend still intact for now? Price 1.37.


Just about 2 weeks back, we saw Starhub approaching the 1.45 support level dangerously..


This level was crucial as we had been rebounding from it since the beginning of the year but now sellers were ready to test it again..


Trend indicators were also looking weak as we headed towards 1.45..


A potential breakdown was definitely on the cards..


Hence some downside target was drawn as seen…





Over the next few days, buyers indeed were not able to hold and just gave way.


And down we went with the 1.40 psychological level giving way as well..


Over the past week, we have seen some consolidation below 1.40 with some temp support at 1.35,


If that clears too, target can still be on tracked especially with downtrend firm for now.


See target that was reiterated as the bearish actions plays out


Downside can still continue for now..


More for Shorts to be taken to ride any weakness, definitely would not want to be holding on to long positions blindly till there are any firm signs of upwards reversal…






Friday, August 16, 2019

YZJ Shipbldg: A huge sell down caught! More downside from here? Price 0.88


Just early last week, we had seen YZJ Shipbldg breaking the 1.40 support and pushing lower bearishly..


More importantly, it was approaching the 1.35 key support that has been holding since the beginning of the year..


There were some signs of weakness and hence a potential breakdown was possible..


Some downside targets were drawn as seen..


Note that this was before any new was announced on its Chairman being probed in China..





A few days later, indeed we have seen the bearish price actions of the breakdown happening…


Target were reiterated again and there were also signs of the short term downtrend playing out..


First target was around 1.15 then 1.00…


Then YZJ Shipbldg suddenly tanked down on the news being released..


Breaking the 1.10 support too…




After the trading halt was lifted, it had also broken the 1.00 psychological support and traded all the way to below 0.800..


See where we are below now,


Some support coming back from 0.70 to 0.80 which were previous support levels in 2016..


What a rapid sell down seen..


For now, for any shorts positions, would be good to take some profits as we approached this support as buyers can return to bargain hunt again..


Would want to be careful of more bearish actions below 0.70,


but some consolidation expected for now before more direction given the huge dipped over the past week.






Tuesday, August 13, 2019

Japfa: Selling to continue for now as predicted? Price 0.48


Just last week, we spotted some bearish actions in Japfa with it attempting to break the 0.50 psychological support..


It has been holding above this level for more than a year so any firm price actions below it may start to see more weakness,


Moreover, there were also signs of the downtrend starting to take shape and pushing further..


Indicators are still looking bearish with the longer trend also down for now, especially below 0.50,


Hence some targets were drawn, see what I mean..





Over the past few days, we have indeed see a firm break down…


And sellers don’t seem to be letting go,


With it unable to climb back above 0.50 new resistance, we may expect the selling to continue as per targets..


A bearish for now with downside on tracked as drawn..


Watching, may start to see some short covering as we head towards 0.42..


CFD shorts can be use to ride and profit from any downside…







Tuesday, August 6, 2019

Man Oriental USD: More selling to continue amidst market weakness? Price 1.50


Just about 2 weeks back, we spotted some weakness in Man Oriental which has been in a downtrend since the beginning of the year..


It was approaching the key 1.70 support that has been holding for more than 2 years since 2017…


Sellers seems to be attempting to finally break this support,


Some bearish price actions were spotted and together with indicators that pointed towards a downtrend,


Downside targets were drawn towards 1.50 first…


See what I mean…




We have indeed pulled away from the 1.70 level as sellers took it lower last week…


Heading towards next support at 1.50 as drawn..


Targets were reiterated again as we head lower and more importantly revised even lower if 1.50 were to break down too..


Seems like buyers were just not able to hold especially with market weakness coming back and STI selling down over the past few days..


We are now at 1.50 where some short covering is happening..


But will not rule out more downside on more bearish price actions spotted and a firm breakdown again where next target can be on tracked... watching…


More for CFD shorts to ride any weakness as prices heads lower… would be good to cover shorts along the while protecting profits.






Thursday, August 1, 2019

SPH: Sellers still not letting go for now? Price 2.19. Cautious more weakness ahead...


Just about 2 weeks back, we spotted SPH heading towards the key 2.30 support..


It has been holding above this level since 2018 and so any breach below this support was crucial..


There were also signs of weakness in the mid to long term trend as we approached the level and hence…


Would want to prepared of more downside on a break down…


Some downside targets were drawn as the bearish action played out eventually…


Downside to 2.00 first… see what I mean…




Over the past 2 weeks, we have seen more selling pressure and targets were reiterated…


Short term moving averages also started pointing down more aggressively…


We have broken below the 2.30 support firmly as mentioned and it was just not able to climb back up..


As such, sellers regained control and took it lower,





Over the past few days, we have traded lower and are now at the temp 2.20 support and seems like that is not holding either..


Targets are reiterated again and downtrend can still be intact below 2.20 now


Will likely see more selling before some short covering happened as we approach the critical 2.00 psychological support..


Watching..


More for CFD shorts to be taken to ride any weakness and profit from the downside... let’s see where we are now below..