Saturday, April 18, 2009
Gold - mid term target US$835
Likely to see a mid term support around US$835, I think.
For mini Gold June contract, add $1.50-$2 more. Thus, about US$837.
Sunday, March 29, 2009
CapitaRetail China - $0.825?
Following property counters in China run-up and Yanlord's surge, CapitaRChina could see $0.825 (where the short and mid term uptrendlines + natural horizontal resistant meet) in the coming days, I think.
Yanlord - $1.32?
Noble -false breakout?
Chartered Semiconductor
Saturday, February 28, 2009
Straits Asia - expect weakness ahead
This could be messy to some of you, but I am trying to check if the trendlines are creditable.
I started by drawing the downtrend lines
Surprisingly, most of the highs and lows hit these lines.
Interstingly, when I zoom out and extend the lines, they are the long term downtrend lines too.
Usually, I do the reverse first.
Conclusion - these trendlines are creditable.
The midterm trendlines showed the Straits asia is bouncing within this range.
On 25th Feb 2009, we saw exceptional high volume, with 12m done at $0.825.
On 26th Feb 2009, it went higher and turned down on 27th Feb 2009 - which is a shortterm breakdown.
If there's no more good news to push it up, we are likely to see force selling on 4th March 2009.
Likely target is $0.77, where most of the trendlines meet.
If the force selling is fierce, my next targets are $0.755 and $0.735.
Monday resistance at $0.825.
Supports at $0.795, $0.755 and $0.735
Venture - watch for the turn
Long term picture.
Venture has been up for 6 consecutive days, despite Dow's big and small falls recently
This is very bullish, could be due to better-than-expected result and short covering.
However, yesterday was the first down bar, but still within the uptrend channel.
I think it could have hit the resistant and posied to turn down.
I will watch for the break.
If next Mon is an outside down bar, that could be the first signal.
If it breaks $4.82, it could accelerate to $4.42
Stronger support at $4.25 and $4.03.
Tuesday, February 24, 2009
SembMarine
Dow Jones - big flush expected
Sunday, February 22, 2009
Saturday, February 21, 2009
Gold - next target
Friday, February 20, 2009
Hang Seng - short term outlook
ST Engineering - hitting resistant soon
Thursday, February 5, 2009
Monday, January 19, 2009
Noble - could be turning up
Noble hit support of $0.965 and could have turned up.
Need one more confirmation - red channel.
Mon (19 Jan 09) trading range is $1.01-$1.05. ($1.01 is the big volume on 16 Jan 09. Looks creditable)
If it can closed above $1.05, I think we can see for a short term uptrend.
My target is $1.14.
Given the volatility of Noble, it may hit $1.17 again.
Got to cross $1.09 before this.
Wednesday, January 14, 2009
Straits Asia - next target $0.84.
Finally broke $0.89 support and closed below it.
High chance of hitting and supported at $0.84 tomorrow (14 jan 09).
High volume + Short term downtrend support + mid-term uptrend support.
If this doesn't hold, next is $0.815. Below that, it is mid term uptrend breakdown.
Tomorrow 1st resistant at $0.92, next is $0.935 - $0.94.
Noble - first day broken down
First day mid term uptrend breakdown.
Likely to hit on 14 Jan 09.
1st support $0.965. (short term downtrend support + big volume support + natural support)
2nd support $0.935 (short term downtrend support + big volume support + natural support)
Sure short into strength counter.
Crude Oil was trading -US$0.925 at 5:05pm.
At time of post, Crude Oil is up US$1.20.
Difference of US$2.125.
If this stays (US$38.80), commodity counters should open higher than today's closing price, tomorrow (14 Jan 09)
This means that we should see Noble trading as high as $1.06-$1.07 (top of day trading range), if Dow closes flat or positive tonight.
Happy Trading!
Tuesday, January 13, 2009
Yanlord and Keppel Land - techincally weak
Yanlord first day breakdown.
Next few supports to look at are $0.93 - $0.90 and $0.865 (target)
Resistant for 13 Jan 09 likely to be at $0.95.
Keppel Land on the verge of breaking down.
Chart looks like turning down very soon.
Trading range for 13 Jan 09 - $1.69 ~ $1.81
Next few supports to look at are $0.93 - $0.90 and $0.865 (target)
Resistant for 13 Jan 09 likely to be at $0.95.
Keppel Land on the verge of breaking down.
Chart looks like turning down very soon.
Trading range for 13 Jan 09 - $1.69 ~ $1.81
Noble - $1.08 must hold
Support is still at $1.08 on 13 Jan 09.
Once it breaks, $1.05 is the next support (for day trade).
After that, will be the messy zone of $1.01 - $1.04.
$1.00 is the ultimate support. After that, it could be easier to trade, as next significant support at $0.935.
$0.97 is a smaller support.
Wilmar - long term price target of $1.10?
Wilmar is likely to break the mid term uptrend support on 13 Jan 09, with Crude Oil down US$2.60 at the time of post. - US$38.
Wilmar formed a double top at $5.72.
Take it as $5.70.
It hit the support of $3.40 on 18 Mar 2008.
Between 5 - 7 Jan 2009, it hit around $3.40 and turned down.
$5.70 - $3.40 = $2.30.
If this counter is going to do a mirror image of the top, $3.40 being the reflective axis, $3.40 - $2.30, are we going to see price objective of $1.10 in the long term?:D
Let's see.
Monday, January 12, 2009
Sunday, January 11, 2009
Straits Asia - unlikely to hold $0.935 on 12 Jan 09
As expected, Straits Asia hit $0.975 and pulled back on 9 Jan 09.
It was supported at $0.92 - big volume support.
Tomorrow, 12 Jan 09, $0.935 is the short term uptrend support.
I think it is unlikely to hold, given that it closed at $0.935 on Fri too + Dow closed negative on Fri.
Come Mon, it is harder to day trade this counter, if you are doing naked short and need to cover at the end of the day.
Supports at $0.92, $0.915, $0.905, $0.90, $0.89.
If $0.89 is broken, all punters will be shorting this counter.
This fall could be very fast and furious.
Next supports are $0.84 and $0.795.
If $0.795 is broken, are we going to see $0.70 in the mid term?
Got to see.
Noble - likely to see $1.08 on 12 Jan 09
Noble did turn down from long term downtrend resistant.
Breakout level at $1.08 on 5 Jan 09.
12 Jan 09 is the force selling day (T+5).
Should see weakness in this counter tomorrow.
Mid term uptrend support is $1.08.
Big volume support is $1.08.
Short into strength is a wiser choice for tomorrow.
Keppel - short term target of $4.50
Biosensors - The sky has cleared!
First day break and close above $0.34 with high volume, when most counters are down on 9 Jan 09.
Sky cleared.
Big volume at $0.36-$0.365 and $0.38 on Fri.
Accumulated big volume at $0.335, $0.385, $0.41 (likely target), $0.43.
$0.40 round number theory.
$0.35 could be the next support after $0.36.
Mon should be a good chance to buy on pullback.
Saturday, January 10, 2009
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