𝐂𝐨𝐦𝐟𝐨𝐫𝐭 𝐃𝐞𝐥𝐠𝐫𝐨 - 𝐓𝐢𝐦𝐞 𝐟𝐨𝐫 𝐚 𝐑𝐞𝐜𝐨𝐯𝐞𝐫𝐲 𝐅𝐢𝐧𝐚𝐥𝐥𝐲? (𝐓𝐡𝐢𝐬 𝐥𝐞𝐯𝐞𝐥 𝐊𝐞𝐲!)

 

Since the start of the year when the pandemic escalated, we have seen Comfort Delgro prices tanking down by more than 40%.

 

From 2.40 all the way to 1.30 in 3 months..

 

It was a fast and furious sell down as ridership numbers fell tremendously when the restrictions started and eventually with circuit breaker implemented.. 😷🚕

 

Then we started to see 𝐬𝐨𝐦𝐞 𝐬𝐢𝐠𝐧𝐬 𝐨𝐟 𝐬𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 from the charts...

 

 

Joey here, Top Tier Remisier in Phillip Securities.

 

Over the past 2 weeks, with pharmaceutical companies one by one announcing the effectiveness of their vaccines, it has lent a boost to Comfort Delgro on recovery hopes... 😅

 

Some short term upside signal spotted and it rebounded fast.

 

So can there be more strength as we head into the end of the year 2020.

 

It depends if we can hold above this key level now..

 

Check out what it is and where can we potentially see selling again.. >> https://youtu.be/clRWuhUhvTc

 

 

 

 

𝐂𝐨𝐦𝐟𝐨𝐫𝐭 𝐃𝐞𝐥𝐠𝐫𝐨 - 𝐈𝐬 𝐓𝐡𝐞𝐫𝐞 𝐒𝐨𝐦𝐞 𝐒𝐢𝐠𝐧𝐬 𝐨𝐟 𝐔𝐩𝐬𝐢𝐝𝐞 𝐑𝐞𝐯𝐞𝐫𝐬𝐚𝐥? (𝐓𝐡𝐢𝐬 𝐋𝐞𝐯𝐞𝐥 𝐊𝐄𝐘!)

Since the beginning of the year, we have seen Comfort Delgro selling down from 2.30 all the way down to a low of 1.33... 😬😬

That is like a 𝟒𝟎% 𝐝𝐫𝐨𝐩 as COVID-19 heavily impacted ridership and sentiments..

Joey here, Top Tier Remisier in Phillip Securities

Some downside targets were drawn in March and then the selling began 𝐅𝐀𝐒𝐓 with our targets hit before we started seeing some support coming back. 😭

Fast forward to today,

We have have started to see some 𝐬𝐢𝐝𝐞𝐰𝐚𝐲𝐬 𝐜𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 over the past 3 months,

It seems like sellers are taking a rest for the moment. 🙏🙏

So the question is:

"𝗔𝗿𝗲 𝘁𝗵𝗲𝗿𝗲 𝗦𝗶𝗴𝗻𝘀 𝗼𝗳 𝗮𝗻 𝗨𝗽𝘀𝗶𝗱𝗲 𝗥𝗲𝘃𝗲𝗿𝘀𝗮𝗹 𝗡𝗼𝘄 𝗮𝘀 𝘄𝗲 𝗛𝗲𝗮𝗱 𝘁𝗼 𝘁𝗵𝗲 𝟮𝗻𝗱 𝗛𝗮𝗹𝗳 𝗼𝗳 𝘁𝗵𝗲 𝘆𝗲𝗮𝗿?"

"𝗢𝗿 𝗰𝗮𝗻 𝘁𝗵𝗲 𝗦𝗘𝗟𝗟𝗜𝗡𝗚 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲?"

Well, watch this video (Recorded 6 June 2020) to see What is the 𝑲𝑬𝒀 𝑳𝑬𝑽𝑬𝑳 right now that will determine if any reversal can happen.

Like and Share if you found it useful.👍

Watch Video here >> https://www.facebook.com/tradingimpossible/videos/332220221103125/

Comfort Delgro: Selling still continuing? Price 2.14. May still see weakness amidst virus epidemic..

Just about 2 months back, we saw Comfort Delgro breaking the key 2.40 support that it has been holding above for more than 6 months…

In addition, there were also some signs of the downtrend starting to take shape…

From the moving averages, we were seeing some weakness, expecially with some bearish crossovers seen..

Buyers were unable to take it above the 2.45 resistance level and sellers just came back to take profit…

Hence, some target were drawn to the downside with target to 2.25 then 2.10 eventually..

See what I mean below…

Sellers seem to be ready to push price lower after each minor consolidation which is not a good sign…

A few weeks passed and there were some consolidation above the 2.30 support…

However, trend was still pointing down eventually we saw the 2.30 support gave way too..

This was captured when it happened live as seen below..

Downside target were reiterated towards 2.10 again as mentioned above..

Note that this was before the virus epidemic currently happening..

Targets were mainly due to the charts showing weakness…

Fast forward to today…

Over the past few days we have seen more selling pressure with the virus epidemic escalating..

2.20 temp support has given way last week and seems like it is about to hit our target at 2.10..

Yesterday’s low was at 2.11 before some short covering return..

Transport business is likely to be hit with lesser tourist coming to Singapore and private hire drivers are already feeling the brunt..

On any further bearish price actions below 2.10, targets can be revised lower as seen…

Still in watchlist… cautious long position for now..

Want to get ideas like these FASTER by WhatsApp as it happens?

Open a free trading account with Joey and his team here, find out why >>>  http://bit.ly/BeJoeysClient

ComfortDelgro: Upside reversal still continuing? Price 2.62. Awaiting more bullish actions.

After the heavy selling we have seen in May for Comfort Delgro where it had retraced from a high of 2.70..

Finally, just 3 weeks back,

We started to see some stability and a potential reversal was in sight,

It had approached the 2.40 support after the sell down and we were looking for some bullish reversal actions..

Finally it did happened and was a good confirmation signal for an upside reversal..

Some targets were drawn back up as a result, see what I mean..

We have indeed see the move up over the past 2 weeks and last week had broke above 2.50 resistance too.

Upside target was reiterated to 2.70 again, see below.

It has crossed back above the 20 day MA which can be a positive short term for this counter plus…

the bullish reversal actions spotted earlier on as mentioned, was a good reversal play..

After some consolidation with 2.60 target hit over the past few days, we have see a breached again…

2.70 looks to be on the way where we may see some profit taking near there..

Would be looking for more bullish actions to see if this reversal has more legs to go..

Quite a good reversal caught, see where we are below now..

ComfortDelgro: Downside target hit, still more weakness? Price 2.22

Just last week, we spotted some weakness in ComfortDelGro after it broke below the 2.35 good support level...

Then on Friday, exactly 1 week ago, it neared the key 2.30 support where we mentioned about more weakness on a breakdown....

Chart was sent with some targets drawn... Price was about 2.31 then... see what I mean.

The support did break down early this week where a note was sent again...

Fast forward today, we have seen it hit a low at 2.20 before some short covering.

Target hit as per chart. So what now?

Well, system BEARISH ENTRY signal still there....

Just saying...

Just be careful if 2.20 does not hold as well...

For now, probably some consolidation from 2.20 to 2.24 before a further move...

Want to be alerted too? Be A Client to be in The Loop!

ComfortDelgro: Some temp support found, but 2.40 is key to stem more selling pressure, price 2.46

Following up from previous call last week, we have indeed seen a firm sell down below the 2.50 psychological support and it has traded down to 2.45 where some buyers are holding for now.

As long as 2.50 is a resistance now, we can still expect more downside back to test the 2.40……

2.40 would be a level where we can see some bargain hunting again as this level has been holding strongly since 2014 and even rebounded from here 2 months back.

Mid to long term trend still weak for now so any clear breakdown below 2.40 can see a new wave of selling towards 2.20 then 2.00.

We may have some sell signals from system soon....

Want to be notified LIVE too like below, Open a Free Trading Account with Joey Choy.

-----------------------------------------------------------------

Sent: Thursday, December 29, 2016 9:37 AM
Subject: ******** ComfortDelgro: Attempting a move below temp 2.50 support, more weakness below likely, price 2.49

For illustration purpose only

ComfortDelGro: More weakness after call issued..... price 2.64.....

Can the 2.60 support hold today too ?

If not? Where next….

More selling seen after call issued in the morning..….

Cautious long below 2.70 guys…

-----------------------------------------------------------------------------------

Sent: Monday, June 13, 2016 9:51 AM
Subject: ***************** ComfortDelGro: A breakdown below 2.70 support can lead to new downward phase.... price 2.67.

ComfortDelGro: Rebounded from pretty good support.... now at 2.99....

Back to 3.10 if 3.00 clears too?

Sent: Monday, December 28, 2015 2:09 PM
Subject: ************** ComfortDelGro: Still supported above 2.90..... price 2.94, Opportunity to accumulate on dips for rebound...

ComfortDelGro has been supported above the 2.90 level for more than 2 monts with resistance at 3.15 for now. Those looking to accumulate some for any rebound can do so at the lower end of the range as it consolidates sideways. All moving averages seem to be flat for now as it trades within range. Only a breakdown below 2.90 will invalidate our bullish short term accumulate call, in this case, a downward retracement will shape towards 2.70. Temp resistance at 3.00 then 3.05.

ComfortDelgro: Rebounding off support as mentioned yesterday, now at 3.19 !

Let’s see if it can break above the 3.20, congrats to those who manage to accumulate on dips.  :)

Sent: Tuesday, June 30, 2015 10:44 AM
Subject: ******* ComfortDelgro: Back to key support on market weakness ,may present opportunity to accumulate again, price 3.10

Following up from previous call, we have indeed seen ComfortDelgro traded to a high of 3.27 before market weakness see it coming back down to support again. Support would be at 3.08 to 3.10 for now which was originally the resistance that held since Feb for 4 months. Both longer term 100 and 200 day MA line still sloping upwards firmly. Those looking to accumulate and bargain hunt again on dips after selling at the high can consider locking some positions again near 3.10, then next support 3.00 if it dips again. Have been supported above the channel support line since December last year and holding well.

ComfortDelgro: A BREAKOUT spotted yesterday at 3.11, then up it went

Now at 3.20, were you notified?

Sent: Thursday, June 11, 2015 9:51 AM
Subject: ******** ComfortDelgro: Breakout spotted above 3.10, posised for more upside above with market strenghtening, price 3.11

Comfort Delgro has been consolidating below the 3.10 resistance level since February and finally today we have seen a breakout on top 30 volume. There can be some upside from here on as long as it stays above 3.10 now with target to 3.20, 3.26 then 3.40. Both longer term 100 and 200 day MA line has been sloping upwards consistently for more than a year and long term uptrend still intact. May start to retrace back to the recent higher on a breakout above the sideway consolidation phase. Note that upward sloping channel support line has also been lending good support since Oct last year.

Comfort Delgro - Did a breakout just happened as predicted last FRIDAY ? price 3.10 now

Now at 3.10, did you prepare along with us?

Sent: Friday, April 17, 2015 1:21 PM
Subject: ********************** Potential Breakout: Comfort Delgro - 3.05 resistance key for more upside, price 3.03

Comfort Delgro has been consolidating below 3.04 – 3.05 for more than 2 months now. Today, we have some actions back to this key resistance level which it is attempting to test and breakout from. Volume has increased to above average on today’s price action. Clearing of sellers from 3.05 – 3.07 can pave the way to more upside to 3.20 then 3.26 which was the high in February before profit taking. Longer term moving averages are still pointing upwards firmly and uptrend intact. Can average up on this breakout to ride further. MACD on the verge of staging a bullish crossover and also turning positive which can see momentum lead the way if 3.05 resistance clears out. Let’s see.

********************** Comfort Delgro and SMRT : Consolidating in wait of more upside......... Monitor for further breakout...

What do you think? Can SMRT breakout from 1.50 convincingly ? Comfort Delgro has indeed hit a high of 2.52 on breakout last Friday before some profit taking seen today.

Sent: Wednesday, June 04, 2014 4:36 PM
Subject: *********************** Comfort Delgro and SMRT : Consolidating in wait of more upside......... Monitor for further breakout....

Both counters have slightly similar charts at the moment where there are consolidating in wait of further catalyst to take them higher. Resistance for Comfort Delgro is at 2.40 and resistance for SMRT  is at 1.50…. Any break up above this key resistances would be a further positive.  Comfort seems to be testing the 2.40 resistance today, lifting of 2.42 would be a good sign to 2.50 first.