Keppel Corp: Downtrend may still be intact despite rebound, price 5.91

Just last week, we have seen Keppel Corp breaking the key 6.00 support on some bearish price actions and more selling happened..

Hence some downside targets were drawn towards 5.60 as seen..

Trend is still down for now where buyers could not hold on longer..

Over the past few days, we have indeed seen the sell down towards our target at 5.60..

And then some short covering happened as the US markets reboudned…

We are seeing a rebound from the 5.60 level and heading towards 6.00 where sellers can be ready to take it lower again..

With technical indicators still looking weak, downtrend may still be in place below 6.00… with target revised again as per below.

Oil prices still facing pressure at US$50 which is putting downwards pressure on oil and gas stocks still…

Singtel: More selling with 3.00 breaking down.. Price 2.92

Just last week, we have seen the 3.00 psychological support for Singtel break down..

That level has been holding for more than 6 months but seems like buyers were not able to hold any longer..

Hence some downside targets were drawn on some bearish price actions spotted.

The selling continued over the past few days and we are now back to the 2.90 support where some short covering seen…

Normal given the sell down..

Downside targets may still be on tracked..

Downtrend has been in placed since the beginning of the year and no signs of reversal as of now…

UMS: Selling down to target... More weakness? Price 0.555

Following up from blog post a few weeks back >> http://singaporetradinginsights.blogspot.com/2018/11/ums-may-still-play-out-towards-target.html

Seems like more selling has returned for this counter…

After the previous post, it has actually staged a rebound towards the 0.64 resistance where some selling were expected again..

Some downside targets were reiterated then as seen below with the downtrend continuing…

Sellers were just here to take it lower on any slight rebound we have spotted…

Today, we have already hit our target at 0.55 where some short covering is seen…

But downtrend still remains intact below 0.60 now imo and..

More weakness not ruled out on more bearish price actions if 0.55 breaks too..

To 0.50 probably?

Well, it was also mentioned that we had a Bearish signal on system on the previous post…

The exit came BUT A new one came out again recently…

Still no exits…  See below for targets reiterated last week…

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Singpost: Selling to new low after minor consolidation... Price 0.915. Cautious! System?

Following up from previous blog post > http://singaporetradinginsights.blogspot.com/2018/11/singpost-downtrend-still-intact-for-now.html

We have seen some consolidation from 0.95 to 1.00 over the past 3 weeks but it seems that buyers were unable to hold out longer over the past few days…

Some firm selling pressure seen with 0.95 breaking down on Tuesday…

Downtrend still looks intact for now though some short covering expected along the way down…

Targets have been reiterated again recently and we are mid way and may still play out… let’s see…

Yes, the thing is we had some bearish signals on our system too, before the heavy selling started…

There are still no exits for now… PTI grads can check…

Would not want to be holding on long positions for now..

Can still think about riding the downside while protecting profits…

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SIA Engineering: Nearing downside target, worst may not be over! Price 2.41

Following up from blog post about 3 weeks back, http://singaporetradinginsights.blogspot.com/2018/11/sia-engineering-target-hit-may-be.html

We have seen some consolidation in SIA Engineering around the 2.50 level…

Some short covering seen after the heavy sell down but buyers were just not able to push it back up firmly…

See the targets that were revealed then again below…

Towards the 2.40 level before it plays out…

Over the past few day, we have witnessed more weakness when the market sold off we are indeed down to the target seen…

Some support seen at 2.40 for now where buyers are doing some short covering…

But DOWNSIDE target can be revised lower on more bearish price action…

In previous post, it was also mentioned that the system had some bearish signals….cautious…

So the question is, is it still there??

Yes, there are still no exits… shhhhhh

that’s all I can say….

PTI grads can check it out and will know why…!

See below what has played out so far when first covered last month…

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STI: Selling down back from key level, 3129 now. Worst may not be over!

Just last week, we spotted a move above the 3100 level which can signal some short term upside..

Hence some targets drawn towards 3200 as seen below where we expected selling pressure to return again..

At the beginning of the week, we have indeed seen the market rallied upwards on news on a truce between China and the US on trade war..

Has neared our upside short term target but…

It seems like sellers are back.. with Dow Jones selling down by more than 800 points over the past 2 sessions…

STI is back to the key 3100 again..

Hopefully that holds, if not, the downtrend can continue further towards the level we have seen last month, let’s see…

Last night, Dow Jones sold off my more than 875 points before paring down its losses on the back of a report of less aggressive interest rate hikes next year….

So some short covering expected today on Asia markets..

See where we are below now…

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China Sunsine: Next target on tracked? Price 1.34

Just about 2 weeks back, we spotted some bullish actions with China Sunsine pushing above the 1.16 level…

Some short term upside was expected as seen when it also crossed above the psychological 1.20..

Which was also above the 100 day MA line which can be a sign of upside reversal taking shape…

Some targets were drawn towards 1.25 then about 1.45 as seen below…

Over the past 1 week, we have seen some profit taking near the 1.35 level…

Which is halfway towards our 2^nd target..

Seems like buyers are still trying to defend the 1.30 support for now with buy ups seen on any dips…

Target as drawn previously may be on track….

We actually had a 1ET Bullish entry signal on the System, still no exits…

Watching for now… would want to take some profits along the way too..

See targets that were reiterated again last week below…

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