Friday, December 27, 2019

Bumitama Agri: Still pushing higher as per revised targets? Price 0.78

About a month back, we saw Bumitama Agri attempting to break the 0.70 resistance level…

That was also where the downward sloping channel resistance was, so any move up above that price level can be a good reversal signal

Upside target was drawn towards 0.75 first as seen below..

From the moving averages, a longer term uptrend reversal still needed more confirmation,

but the short term uptrend was looking quite bullish with it trying to find a new high and with 20 day MA reversing up, crossing above the longer term MAs fast..

See below chart what was seen then..

Over the next few weeks, we started to see it pushing higher toward our first target that was finally hit at 0.75.

Some profit taking set in which is normal given the 6% gain in a few days..

Upside target was reiterated again towards 0.85 if we do see more bullish actions above this critical price level from 0.75 – 0.76…

See below target..

Trend indicators were still looking favorable though some consolidation expected after the run…

Fast forward to today,

We managed to see some consolidation as mentioned below 0.76 over the past 2 weeks..

Sellers seems to be defending this level and buyers were just not ready to take it up further..

Target as drawn previously was still intact as seen above and just waiting for the move…

Today, FINALLY, we managed to see some bullish price actions returning, with a firm move above the 0.76 level..

See below chart where we are today now…

Some short term upside still good to go where we may attempt to break the 0.80 level to push towards 0.85 as per target..


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Friday, December 20, 2019

UOL: The start of its Uptrend continuing? Price 8.23. Looking bullish!

Just last month, we saw UOL approaching the key 8.00 resistance..

This was definitely a key level to watch as we have been trading below this level since June 2018 and so far buyers have not been able to break upwards…

There were already some signs of the uptrend taking shape from the trend indicators so was expecting a bullish move soon..

Just not so sure how soon..

But if we spot any bullish price actions above here, it can be a good signal..

So this counter was definitely in my watchlist for more upside..

Targets were drawn as seen below to 9.00 first…

Over the next few weeks, we have indeed broken the 8.00 but unfortunately, there was some consolidation again with it trading back to 7.60..

Sellers were out to take it lower on profit taking and also on some market weakness… however,

Some good support came back over the past few weeks at 7.70 and we were back to test the 8.10 level again..

Moving averages were looking good still despite the profit taking earlier…

Targets were reiterated with a potential move up again, see below..

Over the past few days, seems like we are seeing an attempt to push higher again…

Targets are reiterated as per below where the uptrend can continue…

It may be heading towards 8.50 – 8.60 first where there can be some profit taking along the way…

Finally some bullish actions returning after more than a year..

Watching to see how far this reversal can go…

See below where we are now…

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Friday, December 13, 2019

UMS: Uptrend still going strong? Price 1.01. A recap from previous Blog post!

We actually covered this counter on my blog more than a month back when it was around 0.855..

Back then, we had rallied all the way from 0.70 in late Oct 2019 and,

we were facing some obstacles when we approached the temp 0.86 resistance,

There was a slight retracement back to 0.80 as a result..

However, buyers were out to defend the 0.800 support level and a rebound was caught

Our upside target was revised further on this rebound as seen below..

To 0.90 first then ultimately to 1.00..

There were still signs of the uptrend going strong from indicators..

In a few days, we managed to break above the 0.900 psychological resistance and buyers took a breather..

It started to consolidate from 0.90 to 0.95 for about 2 weeks but the 0.90 support was holding strongly..

Again, with this level holding, upside targets were reiterated to 1.00 and even to 1.10..

See what I mean below…

That was even before any more was seen.

Price were holding firmly above the 20 day moving average which was one of the signal we use to gauge short term strength..

See where we were then, somewhere around 0.92…

More bullish actions followed subsequently as per targets over the past week…

We managed to hit our critical target at 1.00 a few days back and then some profit taking happened..

However, seems like we are seeing an attempt to break this level to push higher..

On more bullish price actions spotted, we can see the uptrend continue so this counter is definitely still in my watchlist for that,

For now, let’s see if we can hold above the 1.00 new support. Sellers seems to be still here to hold off any up ticks FOR NOW..

Watching, more upside not ruled out !! see below chart where we are now!

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Friday, December 6, 2019

ManulifeReit USD: Quite a good run. Is the upside over? Price 1.00

Just a month ago, we saw some pretty bullish reversal actions in this counter ManulifeReit USD…

It has been trading  below this 0.92 resistance level for about 2 months and buyers were just not able to break through..

However, the move finally came somewhere around 8 Nov 2019…

The uptrend indicators were also looking positive then and more short term upside was expected..

Hence some targets were drawn as seen below.

Towards 0.98 first where we would expect some profit taking..

A few days later, we started seeing prices pushing higher towards target..

From 0.95 to 0.96 then, to just last week when it was nearing our 0.98 target finally..

The uptrend looks good and target were revised higher on the potential break of the 0.98 resistance last week as seen below..

We were expecting buyers to test this level and break through.. see what I mean.. before it happened…

Fast forward to today, we have indeed broke then 0.98 resistance..

In fact, the 1.00 resistance is key for now as we are attempting to clear it..

Any firm bullish actions above can start to see the uptrend continue towards our higher revised target, watching..

Perhaps to 1.05 -1 .10 next… let’s see..

Quite a good run over the past 1 month… more upside to come?

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Monday, December 2, 2019

AEM: Attempting to push higher? Price 1.88. Uptrend may not be over.

Just about 3 weeks back, AEM was on a bull run, it breached the 1.60 resistance….

And also the 1.70 level gave way too..

FYI, we had covered this specific counter end of Oct too in this previous blog post when it was around 1.45 >>

2 weeks later, it started pushing higher..

Our target was revised higher to 1.90 as seen below… that was the key resistance we had been trading below since early 2018, and it was key

Short term trend indicators were also looking good then.. see what I mean,

Over the next few days, indeed we approached the 1.90 key resistance and some heavy profit taking returned..

It started to retrace lower towards 1.70 where we were seeing some good support..

It was likely to consolidate from 1.70 to 1.90 before more actions,

And we were expecting buyers to start coming back near 1.70 for any potential rebound

A rebound towards 1.90 where there can be another attempt above that key resistance…

See targets that we revised from the 1.70 level up..

Fast forwards to now, we have started to see some bullish actions again over the past few days..

A firm and bullish rebound from the 1.70 support last Friday..

And today, it is approaching the 1.90 again

Some selling is coming back…

But we are awaiting more bullish price actions for the next phase of uptrend to continue…

So far, not yet…

But definitely, this counter is in our watching list for more upside..

Profit taking near 1.90 normal for now…

Huge sellers stacked there but let’s see when they can be cleared… watching.. See where we are below…