Genting Sing: Selling pressure still continuing? Price 0.895

Over the past 2 months, we have started to see some weakness in Genting Sing with it breaking below the 1.05 support…

Short term trend indicators were also starting to turn lower after it hit a recent high at 1.15..

Seems like buyers were losing strength and not able to take prices higher..

Coupled with a weaker market in general, some downside targets were drawn…

With our first target hit at 0.95 last month..

We started to see some consolidation above it but there was still a potential break down of this support…

Finally, last week, some bearish price actions was spotted and downside targets were revised lower…

Towards 0.85 next… Downtrend still intact it seems,

We have broken the psychological 0.90 level over the past few days and seems like targets still on tracked…

Would likely see some buyers coming back near 0.85… hope this level holds.. if not, more weakness not ruled out..

ST Engineering - Uptrend still looking strong despite temp sell down.. Targets revised? Price 3.95

Just at the beginning of the year, there were some signs of reversal in ST Engineering…

We could see price attempting to break the 3.60 resistance bullishly and buyers looked like they were ready after the 1 year consolidation..

Trend indicators were also starting to point towards an uptrend forming…

Hence, some upside targets were drawn as seen…

Over the past month, we have seen our targets hit and it had even broke above the multi-year high at 3.85..

Price started to push higher towards our revised target at 4.10 however…

Over the past few days, the market weakened due to US China trade war tensions escalating again and it sold off..

Buyers started to returned near the 3.85 new support and the uptrend still looks intact…

Will continue to see if next targets can be hit… 4.00 need to get out of the way first…

One of the few good uptrend continuation stocks to ride further as long as rules are met…

Ascendas Reit - Uptrend still continuing for now... Price 3.01

Just about a month ago, we saw Ascendas Reit approaching the key 2.85 resistance level bullishly..

Trend indicators were also pointing towards an uptrend reversal…

That level was key and this price action caught our attention..

We have been trading below this level since the beginning of last year where it actually sold off from the 2.85..

Therefore, some targets were drawn when we spotted it… to 3.00 first… see what I mean…

Over the past 2 weeks, we have seen some upside and then some consolidation below 2.95…

The 3.00 seems really near but yet sellers were still defending it…

But eventually, buyers mustered enough strength to clear the 2.95 last week…

and today the 3.00 psychological resistance gave way too…

First target as above has been hit… but we have revised it higher too..

Trend indicators still looking good for now, uptrend still looks intact above 3.00..

Let’s see how far it can go from here….

Wilmar: Upside reversal may still be in progress. Price 3.67.

Just at the beginning of April, we saw Wilmar approaching the 3.40 resistance level bullishly…

There seems to be some bullish signs of it attempting to break above that key level that it has been trading below since July 2017..

Sellers just could not handle the influx of buyers and were lifted off…

Also, from the trend indicators, there were also some signs of upside reversal showing..

Hence, some upside target were drawn, with first target towards 3.60 as seen below…

Just about 2 weeks back, we have seen our target hit and some profit taking happened..

However, target was revised higher as buyers were still in control from the price action..

Coming out on dips after the profit taking..

Target revised to 3.85 thus as we were still monitoring the stock..

Fast forward to today, still seems to be holding well above the new support at 3.60 for now..

Some slight selling pressure faced near 3.70 which is normal..

After the recent rally, would likely take a breather and see some consolidation before it attempts to push towards target drawn previously..

As long as 3.60 holds, still looking alright in the short term.. let’s see when 3.70 will give way too for the reversal to continue..

Ascendas-hTrust: Uptrend may still continue to play out... Targets revised as seen... Price 0.895.

Just at the beginning of the year, we spotted this counter showing signs of upwards reversal…

The REITS sector were showing signs of bottoming out and some were slowly gaining strength, including this counter Ascendas-hTrust.

Trend indicators were starting to point up and..

More importantly, we saw some bullish actions above the key 0.83 resistance level…

Some upside targets were drawn as a result… see what I mean…

As weeks passed, we have indeed seen more strength with it pulling away from the new support at 0.82..

Moving averages also continued to play out positively as expected and bullish crossovers were seen..

Target were thus reiterated towards 0.900 as seen…

Fast forward to today, we have finally touched our target at 0.900,

And yes, the uptrend still looks quite alright despite some profit taking seen for now which is normal…

There may be some slight consolidation before we see another attempt to push higher…

where target can be revised…

Watching.. Let’s see…

One of the Reits you can put in your watchlist for dividend yield and also potential capital gains..

OUE: Upside reversal still in progress? Looking good. Price 1.76.

Just a few weeks back, there were some bullish actions spotted in OUE…

It has been resisted below the 1.65 level since June last year and finally buyers were ready to take it higher by breaking it..

Also, there were also some signs of the trend changing positively from the indicators..

Hence, some upside targets were drawn towards 1.85 first which was where we can expect some firm resistance based on historical price levels..

See what I mean below…

Over the past few weeks, we have indeed seen some consolidation below 1.70 before more actions began,

Has been holding quite firmly above the higher support at 1.65 since last month.. and targets were reiterated again

Buyers were ready to defend the level that they have broken through…

Moving averages were also showing signs of reversal upwards as days passed with a potential crossover..

See the red and blue line below..

Today, we have found a new recent high again as an attempt to push higher towards the same target..

See where we are below..

Can see the bullish crossover as I have mentioned above with the red line finally crossing above the blue 200 day MA line..

This can be a sign of the reversal still in progress…

Target may be revised higher as seen… Still in watch list for more upside…

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Capitaland: Pushing higher with indicators still looking good. Price 3.66

Just last month, we saw Capitaland approaching the critical 3.40 - 3.45 level…

That resistance has been holding prices down since June last year and buyers just could not breach it after multiple attempts

But something seems to be brewing with buyers attempting to break that key level again..

Some bullish price actions was seen and hence upside targets were drawn.. see what I mean..

Over the past few weeks, we managed to see Capitaland pushing higher to a high of 3.55…

But there were some profit taking that came back already,

Some sideways consolidation seen below 3.55 but there were still signs of the upside reversal continuing..

Hence targets were reiterated again over the past few days..

Have broken out higher revised target at 3.60 and 2^nd target looks on track..

Indicators still looking positive for now and pointing towards a good uptrend..

However, we may start to see some selling coming back again as we approach the 3.80…

Let’s see… quite a good reversal caught where more upside still possible…

See where we are now below…

YZJ Shipbldg: Targets to the upside still playing out? Price 1.51

Since the end of Jan this year, we have already seen some signs of upside reversal in YZJ Shipbldg…

It was trading below the 1.35 critical level since March last year and there was an attempt to break it…

Hence, some target were drawn to capture any upwards move as seen below

Especially with indicators looking positive….. target to 1.55 at first.. see what I mean below..

Over the past 1 month, we have indeed seen the move up but not straight away to 1.55 as per above target..

There were some consolidation in YZJ Shipbldg below the 1.48 level with some profit taking…

But buyers were still coming in on any dips and a rebound seen each time with support at 1.40…

Therefore, some upside targets were revised higher again for a potential rebound trade..

And potentially a move higher on some bullish actions spotted.

Over the past few days, we managed to see some nice price actions returning..

Trend indicators were also looking positive with the uptrend set to continue baring any negative news flow..

Have seen a high at 1.53 today before some profit taking..

Upside targets as drawn previously and revised higher may still be playing out.. Watching..

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UMS: Upside Reversal Still in Progress? System says... Price 0.79

Following from previous blog post, http://singaporetradinginsights.blogspot.com/2019/02/ums-pushing-higher-towards-target-more.html

Just last month, we spotted some bullish actions with UMS breaking the key 0.65 level that it has been trading below since Nov last year..

That level was critical as it also coincided with the 100 day MA as seen from the red line below..

This could potentially signal a reversal to the upside in the making..

Trend indicators were also looking at some positive crossovers too..

Hence some upside targets were drawn as seen below…

Targets have been reiterated again over the past 2 weeks towards 0.75 with some slight resistance at 0.70 seen..

Have indeed touched 0.75 last week and some profit taking experienced which was normal..

We then started to see some consolidation for about a week below 0.75…

There were some signs of reversal still showing from the moving averages as seen below..

Upside targets were further revised upwards again last week, with a potential move above the key 0.75 resistance…

That level was also where the 200 day MA was and could potential signal a reversal in the longer term..

See above revised target…

Yesterday, seems like the 0.75 level has been breached too..

And we could well be on our way towards the revised target as seen above where some profit taking can return again…

From the PTI system, yes, we actually had some 1ET Bullish Entry signals since the beginning of the year…

There was an exit but a new bullish signal came out again 2 weeks back just before the move up again yesterday…

Will be watching to see if the revised target can be hit soon and when an exit will be out…

of course while protecting profits in the meantime..…

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Hi-P: Quite a good rally seen, target can be revised further.. Price 1.53

Just early last week, we spotted some bullish actions in Hi-P…

It has been consolidating below the 1.18 – 1.20 resistance since August last year and finally buyers were ready to break that key level..

There were also some signs of upside reversal not just from the moving averages but..

also from the higher lows we have seen since November… see the green upwards sloping channel line..

Hence some targets were drawn with an expected move towards 1.50 as seen below…

Over the past week, we have indeed seen more bullish actions with it pulling away from the new support at 1.20

And even 1.30 gave way too..

Has hit our target at 1.50 yesterday with it trying to push above today as well… high at 1.60 seen as of now..

Target was revised higher again few days back with 1.50 expected to break… seems like still playing out…

To 1.80 now perhaps as revised?

Let’s see..

Buyers may still be ready to take it higher if it holds above 1.50 in the next few days, protect profits in any case…

AEM: Pushing higher towards target. Price 1.13. Target may be revised..

Over the past 2 weeks, we have seen AEM break the 1.00 resistance and was holding really well above..

There were also some signs of upwards reversal from the trend indicators and hence..

More upside was expected with some targets drawn..

See below what we mean… target to 1.20 in the short term…

It actually sold off slightly towards 1.00 where buyers return again stronger and a rebound seen..

Over the past few days, we have indeed seen it pushing higher, away from the 1.00 new support…

And today a push above the 1.10 temp psychological level..

Looks set to head towards 1.20 where some profit taking can occur again…

Upside target as drawn still playing out, see updated chart as of now…

Awaiting more bullish actions above 1.20 which can see target revised further, let’s see…

By Joey’s team

ST Engineering: Uptrend still intact for now, Price 3.75

Over the past few weeks, we have seen some strength in ST Engineering with it breaking the 3.60 resistance that has held last year..

It was one of the few defensive counters which has been trying to push higher despite market weakness over the past few months..

Some profit taking was seen near 3.70 and after some consolidation, it attempted to push higher towards the next phase..

See upside targets that were drawn then..

First target has been hit and next target towards 3.85 as drawn previously may still be on tracked …

Have been trying to hold above the new 3.70 support over the past week and buyers still holding on..

Uptrend indicators taking shape finally after the consolidation for last year..

Can expect some profit taking to occur from 3.80 – 3.85 but more bullish actions above can see target revised higher further…

Let’s see..

UMS: Pushing higher towards target... More upside? Price 0.695.

Just about 2 weeks back, we had seen UMS approaching the key 0.65 resistance level firmly..

This was a critical level for us as you can see that it met a few criteria…

1^st, it was just where the downward sloping channel resistance was… see the red line sloping down..

2^nd, it was also where the 100 day moving average was, the red moving line (slightly hidden in the chart below)..

There was some sign of strength and reversal hence some upside targets were drawn expected that key resistance to give way..

Finally, last week, we managed to see that resistance at 0.65 give way and buyers started to come back..

Upside target was reiterated again towards 0.75… see what I mean below..

We were also about to see a potential crossover of the shorter term moving averages, the green and red line..

Which can signal a reversal on the cards..

Today, seems like we are attempting the move above the 0.700 psychological level..

Halfway towards our target.. Some selling seen here for now which is normal…

A potential upside crossover of the short term moving averages also still playing out...

Target towards 0.75 may still be on the card if this resistance gives way too…  let’s see if target can be hit soon or maybe even revised further..

Separately, we also had a bullish signal on our system for this counter few weeks back, still NO EXITS…

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Best World: Target breached, revised upwards... Price 3.26. See bullish signal!

After consolidating for more than a month below the 2.80 resistance level,

Finally we saw some bullish actions last Monday when it approached the 2.80 resistance level,

Buyers seemed to be attempting to break that.. and at the end of the day we got a close right at the 2.80 level…

Uptrend was still intact as per trend indicators as it consolidated all these while.. the up move came on Thursday furiously and some targets were drawn…

Today, we have seen the 3.20 target breached as well..

Likely to see more upside from here with target revised to 3.50 next..

Given the rally we have seen, would be good to lock in some profits along the way and more importantly protect them also..

Some profit taking expected as we push near 3.50..

Separately, from the PTI system, we actually had a few 1GT bullish entry and exit signals over the past few months..

And the NEW Bullish signal came in last Monday, see what I mean below…

And then the surge happened…

Still no exits as of now… will be looking to see when it comes out… next target may be on tracked..

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Singpost: Target hit, Retracing back down from 1.00 still, price 0.945

Over the past 2 weeks, we have seen Singpost approaching the key 1.00 resistance level…

Some profit taking started and there was a possibility of sellers returning to push it lower..

Some downside targets were drawn then as the trend was pretty much still down in the mid to long down from trend indicators…

1^ST target was at 0.95 first then the previous low at 0.88 – 0.90, see what I mean…

Over the past few days, we have breached the temp 0.95 - 0.96 support which was our first target..

Would want to be cautious of more short term weakness ahead…

2nd target may still be on tracked…

Some decent support seen at 0.94 for now but selling can continue if that gives way too…

Japfa: Heading towards target... short term positive.. price 0.835

Just last week, we spotted some bullish actions with Japfa attempting to break the key 0.80 resistance level…

Has been capped below that since 2017 and finally it managed to break free..

Hence some short term upside was expected towards 0.90 next… see what I mean..

Trend indicators were also look strong and pointing towards more upside then but just needed to wait for more confirmation…

Over the past few days, we managed to see it trying to push higher despite market weakness..

Forming higher highs with each passing day…

Some slight resistance at 0.85 for now, but target looks on tracked with that clearing too…

Target towards 0.900 may still be on the cards if that happens… still in watch list for now…

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