Monday, September 16, 2019

SGX: Uptrend may still carry on despite recent rise. Price 8.52.


Just last month, we saw some bullish actions with SGX attempting to break the key 8.10 resistance level..


It has been trading below since last year and sellers were just out there to take it lower,


But finally, it gave way


More importantly, there were some signs of the uptrend taking shape on this move hence,


Some targets were drawn as seen below..


Towards 8.50 resistance which was the previous high seen last year.. See what I mean..





Indeed, we traded higher and hit a road block at around 8.30 where we consolidated below for about 3 weeks…


There were still signs of the short term upside continuing as seen from the 20 day MA, pointing upwards firmly with price holding above..


And we were looking for that firm break above 8.30 with targets reiterated towards 8.50 again…


It was also still holding firmly above 8.10 new support despite market weakness and with profit taking..





Over the past 1 week, target at 8.50 has been hit and it broke through as well,


For now, seeing some heavy selling at 8.60 where it is taking a breather below..


Normal, given the spike we have seen over the past month…


For now, seeing some consolidation again from 8.40 to 8.60 where the upside push may not be over..


Would be looking for more bullish price actions above 8.60 where targets can be revised higher again as seen below..


Let’s see, watching for now as we consolidate… to 9.00 next as drawn below?






Wednesday, September 4, 2019

Mapletree Com Tr: Uptrend to continue as per targets? Price 2.25


Just last month, we have seen Mapletree Com Tr consolidated sideways from 2.0 to 2.10 quietly…


It was kind of taking a breather with its uptrend still looking good..


But market was weaker and sold off with the US China trade tensions escalating but this counter was still pretty defensive..


Holding firmly above 2.00 as seen below..


Was expecting a rebound from this level and eventually for it to break the 2.10 mark to push higher, hence some upside targets were drawn…




About 2 weeks back, finally, we managed to see an attempt to break the 2.10 resistance as mentioned,


Target to the upside was reiterated again as seen below..


To 2.20 first where we may see some profit taking..


Uptrend still looks firm from the trend indicators…





Over the past week, the 2.20 target and resistance gave way to more strength as well and we have hit a high of 2.30 before sellers came back..


Some consolidation seen for now above 2.20 which is normal given the rise we have seen..


Uptrend still looking good above 2.20 and we may see it continue on more bullish above 2.30 where target can be revised higher…


Watching for now… Let’s see..