Thursday, April 23, 2020

Time to Buy the SG Banks? (OCBC, DBS, UOB?) 🤞😬

Last week, i released a video on Facebook sharing if the SG Stock market, the STI has indeed bottomed and is it time to buy.

I mentioned that if STI were to dipped to certain levels, one can start nibbling some of the blue chips like the banks etc..

Over the past few days, we have had more than 30k views on the video and dozens of people asking me: 

"Hey Joey, so When can i buy DBS? What price you think can enter OCBC?"

If you have not watched the previous "Has the STI Bottomed?" video, click here.

So I thought, why not create a BRAND NEW video now and this time talk about the SG banks.

Yes, UOB, DBS and OCBC specifically.

Over the past 2 months, we have seen the SG banks tanked by closed to 30% as the Covid-19 situation escalated.

Then, about a month back, they staged a solid rebound when governments worldwide came in with economic stimlus..

The Question now is:

""𝑰𝒔 𝒕𝒉𝒊𝒔 𝒕𝒉𝒆 𝑹𝒊𝒈𝒉𝒕 𝒕𝒊𝒎𝒆 𝒕𝒐 𝑩𝒖𝒚 𝒕𝒉𝒆 𝑺𝑮 𝑩𝒂𝒏𝒌𝒔? 𝑰𝒇 𝒊𝒕 𝒊𝒔 𝒏𝒐𝒕, 𝒕𝒉𝒆𝒏 𝑾𝒉𝒆𝒓𝒆 𝒂𝒏𝒅 𝑾𝒉𝒆𝒏 𝒔𝒉𝒐𝒖𝒍𝒅 𝑾𝒆 𝒈𝒆𝒕 𝑷𝒓𝒆𝒑𝒂𝒓𝒆𝒅?"

In this video, I will REVEAL to you if a recovery is on the cards OR if there can STILL be more downside instead for DBS, OCBC and UOB. 

(We want to look at key price actions on the charts to determine this).

We will take a quick glance at my system to see if there are any bearish or bullish signals.

More importantly, I will dive into the Charts for each of the 3 banks and break it ALL down for you as we Discover the key levels that you can potentially start thinking about nibbling some for the longer haul rebound...

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Wednesday, April 15, 2020

Has The Singapore Stock Market Bottomed? Can the STI Head even Lower?🤞🤞😬

Check out this Brand new 20 mins video where I scrutinized the last 5 major crises over 25 years where we had experienced a Bear market.

We can then get an idea of where we are right now in the current Covid-19 pandemic.

More importantly, from all these crises (bear markets), what have we seen specifically on the Charts that has led to their recovery.

We will then Fast Forward to STI NOW to see if there can indeed be more Weakness, or perhaps a Reversal in the next few months?

(Take Note of this CRITICAL level for STI!)

Like and Share if you found it useful. >>> Click here to watch Video on Facebook.

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See below what other are saying about the video.. bet you will find some value too…

Wednesday, April 8, 2020

AEM: A short term bullish move caught! Price 1.98. Can there be more upside?

Just last week, we spotted AEM approaching the 1.70 resistance CAUTIOUSLY

We have been capped below this resistance for about 2 weeks after breaking this support early last month…

AEM then tanked to a low at around 1.30 before a rebound..

As it rebounded towards 1.70, there were some profit taking returning and there could be a potential for prices to retrace lower too..

However, we were also expecting more upside if there can be a bullish price action spotted just at the 1.70 level..

You see, we were pretty much at a crossroad…

It could go either way depending on what we see here…

If it was a Bearish price action, then a retracement back down could be on the cards also..

Essentially, we were watching to see what happens at this critical junction..

To see whether the buyers or the sellers were the eventual winners at this tug of war right at 1.70… an important price level to take note..

See what I mean below by either way… up or down..

Finally, just a few days back on Monday…

It seemed like the winner were the BUYERS

We have managed to completely clear out all the sellers at 1.70 and buyers came back fast to push higher…

Hence, some upside targets were reiterated with the good bullish price action we have spotted.

First target can be to 2.00 first as drawn below..

From the moving averages, we could see prices breaking above the 20 day MA also which could be an indication of more short term upside..

See what I mean..

Not downside, instead upside was intact with 1.70 broken…

Fast forward to today, we have indeed seen AEM heading towards the first target at 2.00

In fact, he has touched it just now and some profit taking returned..

This is Normal given the spiked of more than 15% we have seen over the past few days and when we first spotted the move above 1.70..

Seeing some strength in the tech sector for now amidst a slew of Bullish reports calling for buy on some of the names in this sector..

For now, we may see some consolidation from 1.90 to 2.00 before more direction again.

On more bullish price actions above 2.00, the next wave of upside could also happen and a potential trade back to 2.30 recent high..

See targets and chart below that are now revised higher…

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Thursday, April 2, 2020

Singapore Banks: Is the Selling Really Over? What levels to start looking? DBS, OCBC , UOB...

The past few weeks has been chaotic for most of the Singapore banks, we have broken multi-year support levels and seems like it is still not stopping..

Wanted to do a quick cover of the banks and what are some of the key levels of support as of now..

US markets has been really volatile with Dow Jones selling down more than 1000 points a day which has now become common place..

Banks which are high beta and follow the market closely are affected with this sell down and can potentially turn to a downtrend..

In fact as I am typing, there are already some signs of downtrend playing out in the 3 banks

Take a look at their charts below and the next levels of downside that prices can head to for DBS, OCBC and UOB..

Cautious for now, market is still weak and if you want to try to catch the bottom,

Please be nimble and save bullets along the way down…  

What you want to do if you intend to hold for the long haul is to nibble some at good support level for any rebound rather then just buy at any prices now…

The worst may not be over yet with the number of confirmed cases almost doubling in a matter of days for the whole world..

So don’t be too quick to catch a falling knife unless there are some stability in the current global virus pandemic…

If you are looking to short and profit from the weakness, you can use CFD and enter at level where we see major resistance where sellers are out again….

Best to hold more shorts then long for now… Would want to reduce exposure for any long positions…

Let’s get down to the individual banks below!


DBS has been holding above the 22.00 psychological support since 2017 for more than 3 years but that just gave way about 3 weeks back as the virus situation escalated quickly..

Trend indicators are all pointing lower for now, in fact since the break down below 22.00 there are already signs of weakness and the trend turning down quickly.

We managed to see some support coming back near 17.00 over the past 2 weeks and then it rebounded in line with market on the hopes of the USD 2 trillion stimulus package being implemented last week.

Still looks bearish for now below the immediate 20.00 psychological resistance imo.

In fact, just a few days back, as we approached the 20.00, was expecting some selling to return and a potential trade back down…

See below chart on downside targets…

back to 17.00- 18.00 where some bargain hunting can come back again..

Cautious long positions… If you want to accumulate on dips for the long haul, be nimble… try average down slowly near 17 and maybe even near 15 (if the support at 17 breaks) and do not rush to buy all at once as you will use up all your bullets…

For us, looking more at CFD shorts near major SELLING ZONES to ride further downside until we see some stability in the markets…


We have broken the 10.50 key support in early March that has held strongly since 2017..

this was not a good sign and this has also set off a wave of selling all the way to a low of near 7.50 over the past 2 weeks..

For now, we are seeing 7.50 level as the ULTIMATE CRITICAL support level. Why?

Well, this 7.50 support has been holding for more than 10 years since 2019, yes 10 YEARS!!

and here is where some good bargain hunting can return…

In fact, just last week as the market recovered, we saw the rebound from near 7.50… cementing this as a good support for now..

Nevertheless, if this level breaks, we can still more weakness towards 6.00 - 6.50 if pandemic continues to worsen.. Trend indicators are still pointing lower for now..

Those looking to accumulate on dips, you can try near 7.50, BUT SAME thing, please be cautious because we may see more weakness if support breaks… Nibble some along the way,

Don’t be quick to rush and get ALL IN to catch the bottom..

Over the past few days, as we were approaching the immediate 9.00 resistance, we were expecting some selling to come back and hence some downside targets were reiterated again, see below…

To where?

Well, towards the 7.50 – 8.00 support zone where we can see some short covering again… it has came down a little since… See chart below.


Broken the 23.50 key support level in early March and it was downhill from there same like the other banks and the market…

Has traded all the way down to a recent support at 17.00 before a rebound seen last week…

This 17.00 support will be key as it has been holding since 2012 so if you want to try to catch the bottom can try near there.

Same thing, be nimble..

Short term trend indicators are all still pointing lower for now and in fact,

when we approached the 20.00 immediate resistance few days back, some selling was expected too…  same like the other banks,

some downside target was drawn and there can be a potential trade back down towards the 17 – 18.00 support zones as seen in chart below…

It has sold off a little since… See below what I mean..

Downtrend can still be intact below 20.00 for now unless we see any bullish reversal price actions..

There we have it, we have covered the 3 banks above, do take note of the key levels where you can expect prices to head to on more market weakness..

This current virus pandemic may take a while to be resolved and it could take months or maybe more than a year too as the SG government has mentioned…

The thing is, no one really knows..

But, it is indeed a fact that BANKS prices are way cheaper and much more attractive compared to just a few months back..

If you are looking to nibble some, it has never been a good time and this can be a once in a lifetime opportunity..

Essentially, you need to know WHERE to do it and HOW MUCH to get in and of course have a plan…

It is just a matter of time that we will all get through this current crisis like we always have and that is when you can see the recovery of prices..

Till then, Stay safe and healthy…

– Joey Choy.

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