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..

Can check out the post here again >> http://singaporetradinginsights.blogspot.com/2019/11/ums-decent-upside-reversal-caught-price.html

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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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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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 >> http://singaporetradinginsights.blogspot.com/2019/10/aem-quite-good-spike-caught-then-some.html

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…

Valuetronics: Quite a good run over the past 2 weeks! Uptrend still good? Price 0.77

Just about 2 weeks back, we spotted Valuetronics approaching the 0.70 resistance level…

It has been trading below this level since March this year so any bullish move above can be something interesting..

All this while, it has been consolidating from 0.60 to 0.70 and not much of a direction but 2 weeks back,

We started seeing something interesting…

Buyers seems to be willing to break the key resistance and short term moving averages also were looking positive..

Hence some target were drawn to 0.85 as seen….

Indeed, we started to push higher over the next few days and tested the 0.80 resistance too..

Went to a high of 0.81 before some profit taking…

Looking at a 12.5% gain from when first covered around 0.70 so any profit taking is normal..

Sellers were out to defend this 0.800 level which is where it is consolidating below for now…

Over the past week, we are seeing it trade back down towards 0.75 – 0.76 which was the resistance it broke up from too..

This is likely the support for now with buyers keen to defend this level as seen from the candles..

Might continue to consolidate from 0.75 to 0.80 for the time being before we see more direction..

Meanwhile, trend indicators are still slowly shaping out to be more bullish…

Will be monitoring for more bullish price actions at 0.80 to see our target at 0.85 on tracked..

Frencken: A huge rally over the past 2 weeks but is the uptrend over? Price 0.935.

Just about 2 weeks back, we saw Frencken approaching the KEY 0.75 resistance bullishly..

Since July this year, we have headed towards it but each time met with heavy selling and then a sell down back towards 0.60..

All this while, the long term uptrend seems to be holding well despite the short term weakness and profit taking…

So when we started to approach 0.75 again 2 weeks back, it was an alert for a potential move up..

I was looking for more bullish price actions at the level to lead the next phase of upside..

Definitely on my watch list with some targets drawn before anything happened with first target at 0.90,

See what I mean below…

Over the next few day, the move indeed came!

It was FAST!

Buyers just lifted off the entire sellers and within a week it has hit our target at 0.90..

Target was reiterated upwards to 1.00 as it happened last week too, see where we were then..

Was quite a good spike up with it forming higher highs each day and uptrend was firm…

Fast forwards to today, just wanted to do a quick analysis again..

Seems like we are seeing some support at 0.90 over the past few days with buyers defending this level..

It is likely taking a breather with it consolidating from 0.90 to 0.95 before more direction..

This is normal given the huge rally we have seen.

With 0.90 holding as the support for now, more upside can still be possible towards 1.00 and higher as per revised target below..

However, given the spike we have seen over the past 2 weeks,

would want to have a strict stop loss to protect profits at all cost  😉

Quite a good move up indeed…. Uptrend still looks good above 0.90 imo… watching to see when it can push again..

Penguin: Pushing higher over the past 2 months. Can there be more upside from here? Price 0.71

Just about 2 months back, we saw Penguin breaking the key 0.56 resistance level..

We had been trading below that level for about 4 months so any bullish move above could be a good signal of more upside to come..

Buyers managed to defend that level and it became a good support base for them to push higher..

Indicators were also pointing towards an uptrend taking shape nicely for this counter..

Hence, some target were drawn as seen below, to 0.65 first… see what I mean,

In about 2 week, we started pushing higher and target at 0.65 was nearing..

Target was reiterated again to 0.70 with the uptrend still intact..

There were some profit taking along the way but buyers were still holding well and not allowing price to push lower to where it was the previous week…

We call this forming higher highs daily which is a good sign of strength and momentum.

Short term moving averages were also bullish..

Fast forward to where we are now, we have seen some slight consolidation below 0.700 resistance over the past 3 weeks..

Support was shifted higher at 0.65 and that’s where it held on well..

The thing is, we have been awaiting further upside with a potential breakout above the 0.70 for the uptrend to continue..

Seems like we are seeing some bullish actions returning again over the past few days…

Which can see price pushing higher…

Looking at another 12% gain from new revised target at 0.80 now..

Quite a good run over the past 2 months indeed, but is it over?

Remains to be seen, but for now, looking good with it holding above 0.70 support… See where we are now…

UMS: A decent upside reversal caught! Price 0.855. Is it over?

Just about 2 weeks back, we saw UMS heading towards the 0.700 psychological resistance level…

It had been trading below this key resistance for about 5 months so any move towards it bullishly will be something to note.

Our alerts were set and we were expecting some potential move up but just not sure when..

There were also some signs of the uptrend starting to form up and hence some targets were drawn…

That firm bullish move indeed came on 24^th Oct 2019.. and targets were reiterated as seen…

All the way to 0.80 first…

Over the past week, we have seen our first target at 0.80 hit and there were some profit taking…

This is normal given the spike up we have seen.

But eventually, we managed to get pass 0.80 too and 2^nd target to 0.90 was on tracked..

It then tried to hold above the new 0.80 support last week and target were reiterated as seen below…

Buyers were seen coming out on dips near 0.80…

Over the past few days, we have pushed higher, breaking temp 0.85 resistance as well..

Seems like it is taking a breather for now as we near the 0.90 firm resistance…

Still in watch list for now as we see if we can attempt a move above 0.90…

Any bullish price actions spotted may give way to the next phase but for now, some consolidation expected with profit taking near 0.90…

Watching..

See where we are below….

Rex Intl: A good rebound caught! Price 0.113. Some upside possible before consolidation again.

Just 2 weeks back, we saw Rex Intl approaching the key 0.100 resistance cautiously..

This level was definitely one to watch as we had been consolidating below this level for more than a year..

Any firm bullish price actions near it would be very interesting for further upside to continue..

More importantly, there were also some signs of strength from the trend indicators as we head towards 0.100,

Hence, a potential break out was expected and targets drawn,

See what I mean below..

All the way to 0.120 which was another key resistance to watch… Looking at about 18.1 % gain from this target as seen from the chart below..

The firm bullish move indeed came last week after some profit taking near 0.100…

Sellers were out to take profit and hold down prices initially but they just could not hold on any longer when buyers just cleared out the levels from 0.100 – 0.103 fast..

Targets were reiterated again as it happen last week…

All the way to 0.120…

There was still some room to go for the upside though we may experience some slight profit taking along the way, near 0.110…

Over the past few days, we have broken the 0.110 temp resistance as well…

Looks set to head towards 0.120 where some good selling can return again..

Would be good for those who have rode the upside to protect any profits…

and also look to book profit as it approaches 0.120…

Quite a good run seen and may still be playing out per current prices based on target drawn 2 weeks back… watching!