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Chartzones: Starhub!

Today Starhub tested its critical support at $2.09 but managed to close higher at $2.14 with 5.79 million shares traded.

A candle stick with long upper shadow occurred which shown that the investors are still hesitant to buy further up as it approaches its long term critical resistance/200 days MA at $2.19.

RSI & MACD indicators are still bearish though it started to display the ease of selling pressure at this level.

Important Resistance of Starhub: $2.19

Immediate Support of Starhub: $2.09

We would suggest buying this counter near support of $2.09 or wait till its breaks its critical resistance of $2.19 at high volume.

China sticking with Europe debts!

On 27/May, Singapore shares end higher Thursday as investors began to buy stocks on their way up,  taking some encouragement from lack of bad news in the Europe zone. 

STI ended 43.68 points (1.6%) higher at 2739.7 with VOL of 1.5 billion shares traded compared with 1.66 billion shares Thursday. In the broader market, gainers outnumbered losers 355 to 131.  Today STI opened in red but turned positive during mid-day due to the support of higher U.S. stock futures. 

 

Headline in STI

Before market close

Today China State Administration commented on the news that said they are considering selling some of it holdings of euro-zone government bonds were "groundless," according to a statement published on its Web site.

The denial by China triggered a rebound in Asia stocks as bargain hunters came in after the recent correction but euro-related fears lingered.

Important Resistance of STI: 2780

Immediate Resistance of STI: 2740

Immediate Support of STI: 2650

MY sentiment on STI: Will update on Saturday on weekly market outlook.

Chartzones: CapitaMall, Genting, Ezra!

Today CapitaMall tested its critical support at $1.81 but managed to close flat at $1.85 with 8.55 million shares traded.

A candle stick with long lower shadow occurred.  This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

RSI & MACD displayed the ease of selling pressure indicating that the current price is well supported at this level.

Important Resistance of CapitaMall: $1.88

Immediate Support of CapitaMall: $1.81

We would suggest to buy this counter only after it has breakout of its $1.88 major resistance at high volume otherwise the upside may be limited.

Today Genting broke through the resistance at $0.975 and close higher at $1 with HIGH trading volume of 0.22 billion shares.

The buying pressure is relatively strong as demonstrated by its LONG white candle sticks with no upper shadow and high trading volume.

RSI & MACD show the strength of this rally and in fact MACD is very close to execute a “golden cross”.

Important Resistance of Genting: $1.04

Immediate Support of Genting: $0.975

Genting will be expected to re-test its resistance at $1.04.

We would suggest buying upon tomorrow open if trading volume seems higher than average but sell if Genting does not have the momentum to break technical resistance/200 days MA at $1.04.

In addition, buy Genting if break out of $1.04 as well.

Today Ezra managed to stay off its low of $1.63 and close higher at $1.68 with slightly higher than average trading volume of 14.7 million shares.

For the past 4 days, Ezra has been displaying 3 reversal candlesticks to show the buying pressure as it approaches nears its important support. (21/24 May: Inverted hammer & 26/May). All these candlesticks suggested that the bottom is near and bargain hunter may come in anytime to buy up this stock.

RSI & MACD still relatively bearish with both indicators at oversold region.

Important Resistance of Ezra: $1.72

Immediate Support of Ezra: $1.64

We would suggest looking out for a reversal signal for trading opportunities. If Ezra managed to break $1.72 at high volume, it might be a good start.

Buying momentum still weak for STI!

On 26/May, Singapore shares end higher Wednesday as investors are hunting for bargains based on the motivation that the market seems to find its support in near term especially after a late-session recovery on Wall Street yesterday. 

STI ended 45.41 points (1.7%) higher at 2696.02 with higher VOL of 1.66 billion shares traded compared with 1.61 billion shares Tuesday. In the broader market, gainers outnumbered losers 383 to 128.  Although today rally is not really in board based but the increase in volume shows the enthusiasm of the bargains hunters buying up the “cheap” stocks. 

Headline in STI

Before market close

Singapore's manufacturing output increased 51% in April from a year ago to its fastest pace in 26 years. These results unexpectedly beat the forecast of 19% improvement by seven economists.

Important Resistance of STI: 2700

Immediate Support of STI: 2650

MY sentiment on STI: Today STI broke through the critical support of 2665 to close higher at 2696 (1.7%).

However the white candle sticks with long upper shadow has indicate that profit taking is still in place and investors are not willing buy above the major resistance of 2700.

RSI out of oversold region but buying momentum still weak

We would suggest waiting for STI to break above the major resistance of 2700 before entering the market since the strength of buying is still relatively weak. But the support at 2650 seems strong in short term.

STI officially enters the bear market!

On 25/May, Singapore shares end lower Tuesday as commodities & transport stocks took a beating due to worries over Europe’s debt problems and rising tensions in the South Korean 

STI ended 73.26 points (2.7%) lower at 2650.61 with higher VOL of 1.61 billion shares traded compared with 1.08 billion shares Monday. In the broader market, losers outnumbered gainers 595 to 69. Today selling down really scared buyers away due to the fact STI just broke the critical support at 2665 and techinically enter the “bear market”. 

Headline in STI

Before market close

The news over the weekend that Spain's central bank had taken over a relatively small savings bank CajaSur has caused fearful investors to sell euro and stocks on Monday.

In addition, worries for slow economic growth heightened to another level when the news broke out that Korean peninsula are currently following an investigation into the sinking of a South Korean warship near the disputed Yellow Sea border in March.

Singapore Tourism Board reported that visitor arrivals increased 20.4% on year in April to 938,000 which is the highest ever for the month of April.

Important Resistance of STI: 2665

Immediate Support of STI: 2600

MY sentiment on STI: Today STI fell below the critical support of 2665 to mark a “lower low” and close 2651.

The long black candle with very little upper/lower shadow has shown the determination of the selling down pressure with higher trading volume compared with the past few days.

Both RSI and MACD are in oversold region and do not seems to indicate any signs of rebound in short term.

Technically STI has already entered the bear market and these symbols will actually scared buyers away. Lastly we would advise investors to stay sideline at least for this week unless shorting.

Chartzones: Kepland!

Today Kepland has tested its critical support at $3.48 but managed to close higher at $3.53 though the trading volume is low at 5.68 million shares.

The white candle stick today with long upper/lower shadows indicated that this support may not be able to hold and investors are still deciding which direction to go.  Kepland will likely to retest the support at $3.48 tomorrow. The 100 days MA will likely to act as resistance to prevent any further rally for this counter

Important Resistance of Kepland: $3.58

Immediate Support of Kepland: $3.48

2 ways to trade Kepland

1)     Short if $3.48 support breaks at high volume

2)     Buy if $3.58 resistance breaks at high volume.

For long term investors, we would encourage to wait if we can get at $3.35 or below since the support at $3.48 does not seems strong in short term.

STI not out of woods yet!

On 24/May, Singapore shares end higher Monday as land developers with China exposure  rise on speculation that the government may postponed further policy tightening measures to hold back the property market.

STI ended 22.67 points (0.8%) higher at 2723.87 with LOW VOL of 1.08 billion shares traded compared with 1.49 billion shares Friday. In the broader market, gainer outnumbered losers 260 to 188. Today rally has been very weak due to the fact that the trading activity is LOW and moreover the rally is not board-based. This shows that investors are still very worried about the Europe debts issues and prefer to stay sideline for the time being.

"There should be a temporary pause to the sell-down in the weeks ahead but by no means is the uncertainty over," DBS Vickers said.

Headline in STI

Before market close

Ministry of National Development announced that it will place 18 new property sites on confirmed list which will be able to provide approximately 8,135 residential units for the second half of 2010.  This is the largest number of units from the confirmed list since the Singapore started the confirmed list system in the second half of 2001.

Important Resistance of STI: 2730

Immediate Support of STI: 2665

MY sentiment on STI: Today STI had a very weak non-board based rally with extremely LOW volume. But it is important to note that STI seems to be showing sign of reversal for the past 2 trading days by having a “Doji” & “Inverted hammer” consecutively near the critical support of 2665.

However we would not bet too much on it since the volume is low and STI yet to close above 2730. Thus we would encourage investors to stay sideline till STI managed to close above 2730 at the end of this week.

Weekly Chartzones: Genting, NOL, KepCorp!

Weekly charts are more of a “Wider picture” to see where we are standing as of now. But it is also good for long term investors who could hold stocks up to few years. However do remember to trade using your daily charts for better accuracy.

KepCorp is separated in 4 stages since the recent rally from Mar 2009.

a)     Rally Stage: Mar 2009 to Oct 2009 (8 months period)

b)     Consolidation Stage: Oct 2009 to Mar 2010 (6 months period). Price zone from $8.51 to $7.89.

c)      Breakout Stage: Mar 2010 to April 2010 (2 months period). Breakout from $8.51.

For the past 3 weeks, the important technical resistance at $9.81 was tested but failed to break out. Thus the rebound was strong and KepCorp slump back to the support at $8.51.

At worst case if STI did a further correction, KepCorp will still likely to be able to hold at the major prices zone from $8.51 to $7.89.

If the technical support at $7.89 happens to break, we would advise investor to cut loss or take profit off the table since the major trend line is already broken

Genting is separated in 5 stages since the recent rally from Mar 2009.

a)     Rally Stage: Mar 2009 to Sep 2009 (7 months period)

b)     Consolidation Stage: Sep 2009 to Dec 2009 (4 months period). Price zone from $1.15 to $1.04.

c)      Breakout Stage: Dec 2009 to Jan 2010 (2 months period). Breakout from $1.15.

d)     Pull back Stage: Jan 2010 to Mar 2010 (3 months period). Failed to break resistance at $1.3 and supported at $0.835.

For the past 3 months, Genting has been doing a consolidation movement from $0.835 to $1.04. In addition, do note that the 50 Weeks MA is currently acting as a resistance and RSI divergence spotted for this counters.

Do look out for support at $0.835 since the selling pressure may heighten once this support breaks.

NOL is one of counters whereby it rally in a slow and steady manner.

NOL may be considered to be in 1 stage only since this counter did not break out of its major up trend yet.

a)     Rally Stage: Mar 2009 to April 2010 (13 months period)

Currently NOL is still inside the major uptrend channel and supported at the $1.89.

If you are interested in shipping companies, do consider investing NOL as it is one of our favorites counter. But do monitor the critical support at $1.89 as high selling pressure will be expected once broken.

SINGAPORE Stocks Earnings Announcement Dates (23/05/10)

All big caps in Singapore have already reported their earnings report for first quarter 2010. However do look out for the remaining companies such as Biosensors for trading opportunity.