OCBC and DBS: Both leading the STI index over the past few days, Uptrend firm. OCBC 12.95, DBS 26.49

Just a few days back, we spotted a move above the  key 12.60 resistance level for OCBC…

It has been consolidating below this level for more than a month and finally the move on Wednesday which also led the STI strongly.

Indicators looking positive then for a reversal and some upside targets were drawn….

See OCBC chart below that was sent out.

 

Today, we have indeed seen OCBC traded higher and now at the 13.00 critical level where we are seeing some selling pressure…

May start to consolidate below for a few days before attempting a firm move again with the uptrend continuing and…

Perhaps next target at 13.50 will be touched soon as drawn…

What about DBS?

Well, it has been shown great actions too with it breaking the 25.40 level 2 days back and surging up….. Leading the STI index…

Was expecting a move above 26.00 soon too and it happened yesterday…

See DBS chart and targets below that were drawn 2 days back..

We have indeed seen the 26.00 resistance level gave way yesterday and up it went further to a high of 26.50.

We are currently seeing some resistance from 26.50 where some selling pressure is seen given the 3 days run we have experienced.

May consolidate a while and probably find some new higher support at 26.30 before attempting to push higher again…

Seems like a pretty good start for the year with the blue chips leading the way....

Want to get such ideas in your inbox faster? 


Be a Client of Joey, click here.

Midas: What a incredible reversal seen... Price 0.173. Still good to go?

Just yesterday, Midas staged an incredible reversal above the 0.125 level with buyers rushing in on news of huge contract wins….

Some quick targets were drawn with this price actions spotted, see what I mean below…

1^st target at 0.160 has been hit quickly yesterday…

Some resistance at 0.160 were expected again but today, it seems like the resistance has gave way as well and buyers are out in full force still…

After the first target as drawn yesterday, it may be on its way to 0.195 – 0.200 where selling pressure can return again…

Some temp resistance at 0.180 for now to clear first though…

Would want to protect profits for any long positions at this juncture…

Want More ideas like this, and perhaps faster? Be a Client of Joey.

For illustration purpose only

Lian Beng: 1st target hit, one more on track? Price 0.765

Lian Beng has been supported strongly above the 0.700 level since October…

After seeing some consolidation below 0.725 for 3 weeks...


1 week ago last Wednesday.… We saw some reversal actions near 0.725… and indicators were looking to turn positive too…

A chart with some upside targets were drawn and today, we have seen Lian Beng hitting our 1^st target at 0.76

Some profit taking likely but….

Uptrend can still continue towards 0.80 to our 2^nd target as drawn…

Still watching for more upside with the STI rallying..

System had some bullish signal recently.... No exits.... shhh....

Want to be Notified of ideas like this FASTER ? Be a Client of Joey here.

For illustration purpose only

Chip Eng Seng: 1st target hit, but may attempt a move above 1.00 eventually... Price 0.985

Just last week before the new year… we saw some nice actions in Chip Eng Seng above the 0.95 level…

It has been consolidating below for more than a month and finally awakened..

Mentioned that it is likely to head to 1.00 first to test this key level….

Today, we are indeed still seeing Chip Eng Seng pushing higher towards the 1.00 first target…

A new recent high again today at 0.99…

We can expect some profit taking near here below 1.00 but any firm price action above can see the uptrend continue….

Still in watch list for more upside… will be watching to see if 2^nd target can be hit too….

Want to receive IDEAS like this in your inbox faster? Be a Client of Joey, Click here.

For illustration purpose only

Hyflux: Targets hit but still be cautious of more weakness.... Price 0.365. System spotted weakness!

Just last month, we spotted some weakness in Hyflux on the break below the 0.45 support level.

It was then at about 0.44  and indicators were also looking weak too…

Anyway, some targets were drawn where we expected it to trade lower over the coming weeks and months…

CFD short positions could be taken to ride the downside….

Or those with long positions were informed to be cautious too…

See what was sent out then…

For illustration purpose only

Over the past 1 month, we have indeed seen more selling with the 1^st target at 0.400 breached and then more selling happening again…

We have also seen our 2^nd target at 0.36 hit today…

Looking at the NEW UPDATED CHART as seen below, the downside move have played out quite well indeed…

But downside may not be over yet…

Especially on any specific price action below 0.35 where targets can be revised lower.

Cautious long positions for now, especially below 0.400 where downtrend is firmly intact…

For illustration purpose only

On a separate note, how were we aware of this counter in the first place?

Well, we did had a Bearish signal for Hyflux on 10 Nov 2017 last month…

Before the sell down even began….

Exit signal seen a few weeks back…  BUT there may also be another signal, will see….

Want to be alerted on counters like these too?

BE A CLIENT of Joey, click here….

For illustration purpose only

Hi-P: Pushing higher, mid way towards target.... Price 1.89, More upside?

Just a last week, we spotted some actions with Hi-P approaching the key 1.80 level when it was about 1.79 and we were looking at a potential move above….

A chart was pulled out and some targets were drawn as seen below…

We managed to see it clear past the 1.80 level over the past few days and buyers returned…

First target to 1.90 has been hit today…

Seeing some profit taking here which is normal but any specific price action above this level can see our target at 2.00 on track…

Indicators looking good still for now with uptrend intact above 1.80… with some support at 1.85 – 1.86 expected…

Merry Christmas!

For illustration purpose only

Jiutian Chemical: Targets hit but selling may continue below 0.060, price 0.058

Following up from blog post on Jiutian Chemical last month >>> http://singaporetradinginsights.blogspot.sg/2017/11/jiutian-chemical-exit-seen-finally-then.html

Just wanted to cover this counter again to see if there can be more weakness…

Previous chart with downside targets drawn as seen below again..

For illustration purpose only

Over the past week, we have seen indeed seen more selling and finally our 2^nd target at 0.060 has been breached today too.

Though targets has been hit, it can also be revised lower and …

There can be more downside towards 0.050 then 0.045 too with more confirmation required for now..

Indicators still looking weak especially below 0.060……

Glad that we had an exit on the system just before the recent sell down as mentioned in previous post, cautious long.…

See where we are below now.

For illustration purpose only

Spackman: Selling seen over past week with it nearing first target, Price 0.092

About 1 month back, there were some weakness spotted with Spackman breaking below the 0.110 level…

It was then at about 0.108 and some downside targets were drawn as per below chart as things were looking bearish……

1^st downside target was at 0.090….

Over the past few weeks, we have indeed seen more weakness in Spackman with it approaching our first target at 0.090 today…

We may start to see some short covering near here for now but downtrend still looks intact below 0.096..

Any specific price action below 0.090 can still see more selling towards next target at 0.080 then 0.075 as per 2^nd targets drawn…

Cautious long for now…

Want to be alerted of dangers like these?

Be a client of Joey by opening a free trading account, Click here..

For illustration purpose only