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.