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..

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ParkwayLife Reit: A beneficiary to current virus situation? Price 3.54. Uptrend to continue despite market weakness...

Just about a month ago, we saw ParkwayLife Reit approaching the key 3.30 resistance bullishly..

It has been trading below it for more than 2 months and seems like it was ready to test that level and push higher again..

Moreover, from the trend indicators, it was looking positive too with the uptrend set to continue on more bullish price actions…

We have indeed broke the 3.30 resistance and that was the new support..

See what I mean below…

Clients were informed by WhatsApp too as seen below, first target was to 3.50..

Over the past few weeks, we started to see some profit taking at 3.40 where sellers were quick to defend that higher resistance..

It was pretty much back to some consolidation from 3.30 to 3.40 for about 2 weeks…

But buyers were not letting go either. They were holding on firmly and coming out on dips to push price back above 3.30…

Target to the upside was reiterated with a potential break above the 3.40 level about 2 weeks back…

This was before any escalation of the Wuhan virus which has now affected the world and in global headlines..

Uptrend was still intact as seen  below. Target reiterated to 3.60 as seen below....

Over the past few days, we have seen the 3.40 resistance broke on more confirmed cases of the Wuhan virus in Singapore.

Today, a move above 3.50 psychological level seen also which can see more short term upside.

Uptrend looks intact with 3.50 support holding for now…

This counter can be a beneficiary to current situation as it is in the healthcare sector..

A snippet of what it does and why it is moving up despite the general market being weaker and instead selling off with STI down 83 points now…

“ParkwayLife REIT invests in real estate and real estate-related assets that are used primarily for healthcare and healthcare-related purposes, including hospitals, healthcare facilities, and real estate and real estate assets used for healthcare research, education, and the manufacturing or storage of drugs, medicine, and other healthcare goods and devices.”

Target reiterated upwards further as seen in updated chart below, still watching this counter for now closely and protecting profits while riding....

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Mapletree Ind Trust: Uptrend don't look like stopping. Price 2.81. Taking a rest for now.

Just about 2 weeks back, we saw some really bullish actions with Mapletree Ind Trust approaching the 2.62 resistance level..

That was just after the new year celebrations and it seems like all the Reits will slowly gaining strength..

We have been trading below this key resistance level since Sept 2019 for about 4 months but buyers don’t seem to be giving up in term of attempting to break this level..

Some alerts that were set were triggered when the move came..

A chart was captured with some near term target drawn to the upside.. trend indicators looked bullish then..

Target to 2.80 for a start which is about a 6% potential upside gain, see what I mean below..

A Whatsapp Message was broadcasted to clients as seen above and a few days later, this stock started pushing up as per our target..

It managed to break the 2.70 temp resistance too and buyers were going strong..

It was forming higher highs each day which is definitely a good sign of strength,

Upside target was revised higher again as seen to 3.00 with the eventual potential clearing of 2.80 first target..

Uptrend indicators were still looking strong and pointing to more upside..

That is like another 10% gain from where we were last week from revised target…

Fast forward to today, we have managed to hit our first target at 2.80… and also break above it..

Currently at about 2.82 where we are seeing some good support coming back at 2.80..

Uptrend still look firmly intact with this level holding and moving average positive,

Targets are reiterated again to 3.00 for now.

We may see some consolidation above 2.80 first for now before an attempt to push higher again…

Watching… looking good and definitely still in our watchlist to ride further…

Protect profits while riding.. see where we are below now..

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Keppel DC Reit: Uptrend still going strong? Price 2.23. Buyers still holding well for now!

About 2 weeks back at the start of the new year 2020, we saw Keppel DC Reit approaching the critical 2.10 resistance..

This level was key as we had been consolidating below it for about 4 months since Sept 2019..

There were already some signs of the uptrend continuing further with moving averages looking good.

Awaiting some bullish price actions at 2.10 which can lead the next phase..

Finally, it came on the 3^rd of Jan 2020 and we were prepared..

See the chart that was captured where targets were drawn for more upside towards 2.30 first target which is about an 8% potential gain..

Over the next few days last weeks, we started to see prices pushing higher…

Gradually towards the 2.20 level where some slight profit taking set it…

This was normal given the rapid spike over a couple of days..

Target was reiterated again when it was at 2.18 with a potential break above the 2.20 level eventually last week.

Buyers seems to be holding prices well and any profit taking was met with more buying pressure..

See chart below where target is reiterated…

Fast forward to today, we are CURRENTLY seeing a firm attempt to break the 2.20 level and also push away from it..

Looks like our 2.30 first target as drawn 2 weeks back is on tracked and  may touch soon…

Not only that, we have revised our target higher, probably to 2.50 but we may see profit taking along the way.

Would be good to hold and ride while taking steps to protect profits.. see where we are below now!

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Mermaid Maritime: A 22% gain last week caught.. then some profit taking seen. But is the upside really Over? Price 0.141.

Just about 2 weeks back on 27 Dec 2019, we saw some really bullish actions in Mermaid Maritime with it attempting to push higher towards the 0.120 resistance..

This level was key as it had been trading below since Sept 2018, so any firm price actions above it can see the upside reversal take shape.

More importantly, there were also some signs of trend indicators pointing higher…

Pointing to a reversal from the downtrend seen since 2017 to FINALLY an upside reversal…

Hence, some upside targets were drawn.. (See what I mean below)

1^st one to 0.120 which was where we were expecting some profit taking but more importantly,

Above that key level where we can really see price closing the gap upwards towards 0.150..

That is like a 22% upside gain…. This was before anything happened on 27 Dec 2019…

When the market opened last week on Monday,

THE MOVE came… It attempted to break this 0.120 as mentioned above..

A price alert that was set previously came and we were notified at around 0.122 where I looked at the chart again, see below..

Clients were also notified by WhatsApp Broadcast of this move as it happened. (see Whatapp message below)

Target was reiterated again as it happened and we capture that very moment at 0.122 in the chart.

It was indeed some bullish price actions where buyers started to just grab fast and volume was strong too…

And with prices indeed pushing higher towards 0.150 as per our target…

Up it went by 22% as per our target drawn before it stopped and some profit taking started happening…

Fast forward to today… wanted to do a quick technical analysis again…

From the updated chart below as of today, we have been consolidating from 0.135 to 0.15 for more than a week after the profit taking seen at 0.150…

But it seems buyers are still coming out to buy on dips near 0.135…

For now, uptrend still looks ok from trend indicators but we need to see more bullish price actions above 0.150 for the next phase to come..

Where target can be to 0.170 – 0.190 next as drawn below..

So far not yet as market has been weaker again over the past few days..

Well, it may attempt to test the 0.150 resistance level again and we shall see, this stock is definitely still in my watchlist fyi.

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AEM: Uptrend continuing after a rest? Price 2.07. Seeing actions returning finally after a month...

Following up from previous blog post a month back when AEM was trading around 1.88,

it was mentioned that Uptrend may not be over.. See post here again >> http://singaporetradinginsights.blogspot.com/2019/12/aem-attempting-to-push-higher-price-188.html

We were expecting a move above the 1.90 level first… that was where selling was happening then.

Target was reiterated to 2.10 after the first initial 1.90 target..

Let’s see the chart below again.

Over the past few weeks, there seems to be some consolidation but this stock was still in our watchlist all along..

Uptrend was still looking good though there was some profits taking near key resistance like 1.90 which was normal…

We managed to break the 1.90 resistance and headed towards 2.00 where saw some profit taking returning again..

Price actually retraced down towards 1.85 – 1.90,

but some bullish reversal actions were spotted again last week…

It was attempting to head back to the key 2.00 resistance level and we were expecting that to give way soon, just not too sure how soon..

As such, targets were reiterated with a potential move above 2.00 with target raised to 2.20 as seen below..

Trend indicators were pointing to a strong uptrend also then..

Fast forward to today, indeed we have managed to see some bullish price actions across the 2.00 key resistance level..

In fact on the last day of the year 2019, we were watching this key level and clients were notified on Whatsapp as it happened..

Today, seeing a push higher, away from the 2.00 level which can be a good thing..

As long as we see the 2.00 hold as a new support, uptrend can still be intact with target revised as seen..

See where we are below now..

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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..

Watching…

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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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