Wednesday, November 13, 2019

Penguin: Pushing higher over the past 2 months. Can there be more upside from here? Price 0.71


Just about 2 months back, we saw Penguin breaking the key 0.56 resistance level..


We had been trading below that level for about 4 months so any bullish move above could be a good signal of more upside to come..


Buyers managed to defend that level and it became a good support base for them to push higher..


Indicators were also pointing towards an uptrend taking shape nicely for this counter..


Hence, some target were drawn as seen below, to 0.65 first… see what I mean,




In about 2 week, we started pushing higher and target at 0.65 was nearing..


Target was reiterated again to 0.70 with the uptrend still intact..


There were some profit taking along the way but buyers were still holding well and not allowing price to push lower to where it was the previous week…


We call this forming higher highs daily which is a good sign of strength and momentum.


Short term moving averages were also bullish..




Fast forward to where we are now, we have seen some slight consolidation below 0.700 resistance over the past 3 weeks..


Support was shifted higher at 0.65 and that’s where it held on well..


The thing is, we have been awaiting further upside with a potential breakout above the 0.70 for the uptrend to continue..


Seems like we are seeing some bullish actions returning again over the past few days…


Which can see price pushing higher…


Looking at another 12% gain from new revised target at 0.80 now..


Quite a good run over the past 2 months indeed, but is it over?


Remains to be seen, but for now, looking good with it holding above 0.70 support… See where we are now…






Thursday, November 7, 2019

UMS: A decent upside reversal caught! Price 0.855. Is it over?


Just about 2 weeks back, we saw UMS heading towards the 0.700 psychological resistance level…


It had been trading below this key resistance for about 5 months so any move towards it bullishly will be something to note.


Our alerts were set and we were expecting some potential move up but just not sure when..


There were also some signs of the uptrend starting to form up and hence some targets were drawn…


That firm bullish move indeed came on 24th Oct 2019.. and targets were reiterated as seen…


All the way to 0.80 first…




Over the past week, we have seen our first target at 0.80 hit and there were some profit taking…


This is normal given the spike up we have seen.


But eventually, we managed to get pass 0.80 too and 2nd target to 0.90 was on tracked..


It then tried to hold above the new 0.80 support last week and target were reiterated as seen below…


Buyers were seen coming out on dips near 0.80…





Over the past few days, we have pushed higher, breaking temp 0.85 resistance as well..


Seems like it is taking a breather for now as we near the 0.90 firm resistance…


Still in watch list for now as we see if we can attempt a move above 0.90


Any bullish price actions spotted may give way to the next phase but for now, some consolidation expected with profit taking near 0.90…


Watching..


See where we are below….





Monday, November 4, 2019

Rex Intl: A good rebound caught! Price 0.113. Some upside possible before consolidation again.


Just 2 weeks back, we saw Rex Intl approaching the key 0.100 resistance cautiously..


This level was definitely one to watch as we had been consolidating below this level for more than a year..


Any firm bullish price actions near it would be very interesting for further upside to continue..


More importantly, there were also some signs of strength from the trend indicators as we head towards 0.100,


Hence, a potential break out was expected and targets drawn,


See what I mean below..


All the way to 0.120 which was another key resistance to watch… Looking at about 18.1 % gain from this target as seen from the chart below..




The firm bullish move indeed came last week after some profit taking near 0.100…


Sellers were out to take profit and hold down prices initially but they just could not hold on any longer when buyers just cleared out the levels from 0.100 – 0.103 fast..


Targets were reiterated again as it happen last week…


All the way to 0.120…


There was still some room to go for the upside though we may experience some slight profit taking along the way, near 0.110…





Over the past few days, we have broken the 0.110 temp resistance as well…


Looks set to head towards 0.120 where some good selling can return again..


Would be good for those who have rode the upside to protect any profits…


and also look to book profit as it approaches 0.120


Quite a good run seen and may still be playing out per current prices based on target drawn 2 weeks back… watching!






Wednesday, October 30, 2019

AEM: Quite a good spike caught then some profit taking. Price 1.45. Uptrend may not be over...


Just about 2 weeks back, we spotted AEM approaching the key 1.30 resistance level…


This level was key has it has been trading below since May last year and buyers were just not able to lift it off..


Tested for close to 4 times but failed always..


But this time, it was different, there were some signs of the uptrend starting to take shape as it approach the 1.30 resistance.


Hence, some upside targets were drawn with a potential break out expected…


See what I mean below..





Early last week, the bullish move that we were waiting eagerly for indeed came,


It was attempting to break the 1.30 level and buyers were ready to push it higher..


Some bullish price actions was spotted as it happened and upside target reiterated as seen below.


You can see that after 1.30, there was quite a huge gap to clear and hence quite a good reward to risk ratio for any long position to be taken.


The reversal to the upside looks set to continue as per our targets..




Over the past few days, the 1.40 resistance gave way too,


And we have managed to push higher to a high of around 1.53 before some profit taking came back..


This is normal given that we have surged from 1.30 all the way to more than 1.50 in a few days which is more than 14% gain.


For now, likely to see some support coming back from 1.40 where it may consolidate above before attempting to push towards 1.60 target as drawn…


The uptrend still looks good if it holds above 1.40 now and there may be more legs to the rally after a rest..


Still in our watch list…








Wednesday, October 23, 2019

CityDev: A bullish move finally seen as predicted. More upside from here? Price 10.67.


Just about 2 weeks back, we saw CityDev approaching the key 10.00 resistance level


It had been trading below this level for more than a year with it testing it for more than 2 times but failed to get above..


This time, it was nearing it again after some consolidation above 9.50 for a few weeks..


More importantly, there were already signs of the uptrend starting to take shape from indicators,


Hence, a potential move up was expected and some targets were drawn… it was then around 9.77.


Target was to 11.00 first,


See what I mean below.




Last week, true enough, the move came..


It was pretty fast with buyers just coming in to clear out all sellers at 10.00,


And it just started rising fast.. Uptrend was looking good on this move..


Targets were again reiterated towards 11.00 first and maybe even higher where a 2nd target is drawn..


Was quite a bullish move up after the consolidation below 10.00 for more than a year as mentioned…





Over the past few days, we have seen the temp 10.50 resistance gave way too and with CityDev pushing higher…


Likely to see some profit taking as it nears 11.00 for now,


But uptrend may not be above if it can hold above 10.50 higher support..


Indicators still pointing towards more upside for now..


Watching to see if target can be hit, but quite a good run seen..






Friday, October 18, 2019

Mapletree Ind Trust: Is the uptrend over? I doubt so for now.... Rebound caught! Price 2.59


Slightly more than 2 weeks back, we saw Mapletree Ind Trust selling down towards it key 2.40 support..


This level was crucial as it was the resistance it actually broke above last month…


It had then traded all the way to near 2.60 before some heavy profit taking…


So when it traded back to this 2.40, this could be where buyers may be looking to bargain hunt  again…


In addition, it also coincides with the 20 days moving averages which lends some support..


Hence, expecting the uptrend to continue further, some upside rebound targets were drawn back towards 2.60


See what I mean…




Over the past 2 weeks, we have indeed seen the rebound off the 2.40 support level taking place…


Buyers came back bit by bit and regained control again as prices pushed away from 2.40…


It broke the 2.50 over the past few days, approaching the 2.60 target as drawn…


We may see some profit taking near here again given the rebound over the past 2 weeks but..


Awaiting more bullish actions above 2.60 which can see the uptrend continue…


Looking at a really good firm uptrend for now based on trend indicators…








Monday, October 14, 2019

Great Eastern: Downtrend to continue for shorts? Sellers still seems to be in charged! Price 21.75


Just 3 weeks back, we spotted Great Eastern approaching the KEY 23.00 support dangerously


It has been pushing lower after each consolidation since August and hence there were definitely some signs of weakness


In fact, trend indicators were also pointing to more downside


Some downside targets were drawn with a potential break down of 23.00 expected eventually..


See what I mean below…


Buyers seems like that were not able to hold any longer and sellers were attempting to regain control again..





Over the next few days after spotting, indeed, the break down occurred at 23.00 and sellers took price lower…


Target were again reiterated with a sell down towards 22.00 expected next…


That was the next crucial support based on prices 2 year back where it held,


And this is also where we may start to see some short covering.


Downtrend was intact on this move down…





Last week, we traded lower towards 22.00 and seems like this support has given way as well..


Which opens up the way to our next target towards the psychological 20.00 as drawn all along..


With price holding below 22.00 now, still looks bearish and sellers can continue to push lower after a slight breather…


For those who have taken shorts earlier, would be good to start protecting profits while riding further…


More for CFD Shorts to profit from the downside rather that just holding on blindly to long positions..


Will be looking to see when target at 20.00 can be hit eventually…..







Wednesday, October 9, 2019

Bukit Sembawang: Selling still not stopping? To ride downside further.... Price 4.76.


Just about 2 weeks back, we spotted Bukit Sembawang heading towards the key 4.95 – 5.00 support level..


This level was definitely one to watch as we have been holding above for more than 2 years and..


We have rebounded from it about 3 times..


But this time, things seem to be different with some signs of weakness creeping in.


From the trend indicators, some downside was also starting to show….


And hence some targets were drawn for a potential breakdown… see what I mean…


First target to 4.60 first…




Last week, more selling came and buyers were just not able to hold above the support at 4.95 as mentioned earlier…


Sellers managed to regain control and were ready to take prices lower..


Managed to see selling all the way to 4.80 where there were some slight support…


But downside targets were again reiterated, to 4.60 then even lower to 4.40 if that fails to hold too..


Over the past few days, seems like 4.80 is not holding either….


More downside possible from here…


Hope that no one is holding on to long positions… More for shorts with CFD to ride further weakness while protecting profits…


See where we are below and targets drawn which can still play out…







Friday, October 4, 2019

BreadTalk: Sellers still not letting go? Price 0.595. Downtrend firm for now...


Just about a month ago, we saw more weakness in BreakTalk with it heading towards the next support at 0.63..


This level was key as we had seen support above here more than 2 years back in 2017..


Buyers were likely to come back for some short covering,


However, more downside was still possible, especially with the downtrend indicators pointing firmly to more selling…


Hence, targets were reiterated to the downside with a potential breakdown below this 0.63 level expected…


See what I mean below…





2 weeks passed and indeed, the 0.63 support gave way,


Buyers were just not able to hold any longer as expected…


Targets were reiterated again all the way towards 0.50 with some temp support at about 0.55..


Sellers seem to be willing to push even lower towards target….


There were some consolidation above 0.60 but short term downtrend can continue imo with indicators still bearish…





Fast forward and over the past few days, we have seen the 0.60 psychological support broken too…


We can expect more selling towards target with downtrend intact


Definitely would not want to be holding on to this counter blindly for now.. More for CFD shorts to ride further weakness…


Not too sure how low it can go, but so far, we have seen more weakness after some slight consolidation,


Forming lower lows as a result which is not a good sign


Let’s see when downside targets can be hit… maybe soon?








Tuesday, October 1, 2019

Penguin Intl: Uptrend still continuing strongly? Pushing higher for now... Price 0.61


Just about 2 weeks back, we spotted Penguin approaching the 0.55 resistance which it had traded below for more than a month..


There were some signs of bullishness and also the potential for this key obstacle to give way..


The trend was slowly firming up to the upside and buyers seems to be willing to push more after each consolidation..


Hence, some target were drawn with the first one to 0.65..


See what I mean..




Just last week indeed, we have seen the 0.55 level lifting off where it neared 0.600..


And some profit taking…


Was expecting some consolidation again before further upside..


Targets reiterated upwards with support at 0.55 now..


Potential for it to break the 0.60 to push higher… See what I mean..




Seems like we are indeed seeing more bullish price actions coming back today with 0.600 sellers cleared.


Trend indicators are still looking positive on this move where uptrend can still continue..


Target revise higher to 0.700 as seen below for the updated chart..


Will see how far it can push..


Likely to see some profit taking along the way, especially near 0.700 before some consolidation again…


Quite a good run so far over the past 2 weeks.. See where we are below now.






Wednesday, September 25, 2019

Ying Li Intl: Selling pressure to continue further after a rest? Price 0.102. Cautious.


Just last week, we saw some pretty bearish actions in Ying Li with it breaking the 0.110 support…


There were already signs of weakness, especially with all the short term moving averages starting to point down and more importantly,


With prices breaking below them..


The bearish move below 0.110 can see more selling with first target at 0.100, the psychological level where some would want to do some short covering…


Some targets were drawn as seen below..





Over the past few days, we have indeed traded lower and have touched the 0.100 key support for now..


As mentioned, buyers were back which is normal given the heavy sell down..


Short covering seen for now where those who shorted previous would like to consolidate positions and take some money off the table..


Our 2nd downside target as drawn above may not be over and can still play out..


Reiterated once again below where any bearish price actions can see the selling continue…


Likely to see some consolidation above 0.100 for now.. but watching for further weakness..


Downside to 0.080 as drawn?


Cautious long positions if 0.100 psychological support gives way, more for shorts to profit from more weakness if it does happens, let’s see…








Thursday, September 19, 2019

Keppel DC Reit: Uptrend to continue further with revised targets? Price 2.07.


Just last month, we saw Keppel DC Reit approaching the key 1.75 resistance bullishly


It has been trading below this level for about 3 months and hence any firm move above can be a good signal of more upside..


More importantly, it was holding firmly above its key moving averages where the uptrend still look pretty intact…


Buyers seems to be ready to take it higher and therefore,


Some targets were drawn towards the 2.00 psychological level as seen below..




Over the past 1 months, we have indeed seen more upside with the occasional profit taking..


It hit 1.90 before some sellers returned to take it lower but buyers were not letting go,


A rebound again and finally 2.00 target hit today..


In fact, it’s quite a bullish move above 2.00 where the uptrend can still continue to play out…


A positive above 2.00 where it may consolidate for a while before more upside..


Some selling near 2.10 expected given the spike up seen over the past few days but the strength may not be over..


Let’s see where we are below..






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..







Thursday, August 29, 2019

Sembcorp Ind: Selling down to critical support. Can this hold too? Price 2.05.


Just about a month back, we saw Sembcorp Ind approaching the 2.50 resistance level that it has been trading below since May…


There were huge sellers there and it rejected that level again with some bearish price action


The trend was also down from the mid to long term indicators and hence..


We were expecting more downside towards the 2.30 level


See what I mean…




Indeed the selling continued after that bearish actions where it rejected the 2.50 with it selling all the way down..


Even our 1st target at 2.30 gave way too..


But some good support came back at 2.20 where it hovered above for about 2weeks..


The trend was still firmly down and a further breakdown was possible too and we reiterated our targets last week as seen below…


To 2.00, the psychological level that is key..





This week, the 2.20 broke down on more market weakness and sellers returned fast..


We are now approaching the 2.00 critical support where there are some short covering which is normal given the sell down we have seen over the past month..


We may start to consolidate above 2.00 for now for a breather but would want to be careful if this support will to break down again where targets can be revised even lower…


See what I mean below,


More for taking shorts to ride any potential weakness rather than just holding on to long positions all the way down imo…


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Monday, August 26, 2019

HPH Trust SGD: Selling down as per target. Some buying seen BUT worst may not be over. Price 0.22.


Just about 3 weeks back, we saw HPH Trust SGD approaching the really critical 0.300 support level,


We have been holding above this level for more than a year and it seems like sellers were ready to break it..


From trend indicators, there were already signs of weakness and a potential breakdown seems very likely..


That firm price action came and some downside targets were drawn..


To about 0.20 as seen below..





Over the past few weeks, we have indeed seen more selling pressure with markets also turning lower..


There we some temp support seen at 0.25 however,


That gave way as well and targets were reiterated again towards 0.20..


Downtrend was intact and sellers were definitely not giving up..





Today, we are almost approaching the next support at 0.20 where some short covering is seen..


Some buyers are coming out to take some profits on short positions so it is normal..


Likely to see some consolidation above 0.20 first BUT…


NOTE that more downside not ruled out on more bearish price actions below 0.20..


Target can be revised lower as seen below… Cautious long positions…. More for shorts to ride further weakness..






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.