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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.

Market Outlook (22/05/10): STI on verge to enter bear market!

In last week, STI lost a stunning 154 points from the opening of 2855 and close lower at 2701 to mark a  long bearish candlestick with little shadows which shown that intensity of the selling pressure. Although this week volume has slightly decreases compared to past 2 weeks but it is generally higher than average trading volume.

Fears on the Europe’s debt crisis have heightened over past weeks with most investors likely to further monitor the works of the euro leaders stabilize its heavily indebted members.

China will also be another focus point as the government may tightens bank lending and takes other actions to slow down the economy growth.

Technical Analysis on STI

The situation for STI is clearly very bearish since we close 154 points down to mark the largest drop for the week since Oct 2008

Important points to note

1)     Long black candle sticks with little shadow have shown the determination of the bear trying to short the market.

2)     The trading volume for this week has decreases slightly but still higher than average weekly volume. (Selling pressure still strong)

3)      RSI heading downwards though the prices went up revealed the weakness in the rally momentum.

4)     Currently STI is supported at the 50 weeks MA and the important technical support at 2665 which it has tested in last Friday.  

5)     High possibility that STI will re-test the 2665 support in next week to determine the next direction of the market.

6)     Why is the support at 2665 important?

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

b)     Consolidation period: From Sep 2009 till now (9 months period)

Since Sep 2009, STI has managed to achieve higher high with 2665 index as the critical support forming an ascending triangle. Once the support has been broken, STI technically will enter bear market which means recession may come. (Possibility of double dip)

Important resistance of STI: 2730

Immediate Support of STI: 2665

MY tactics: Wait at sideline unless shorting. Do not encourage to catch a falling knife at this point of time.

Review of Wealth Academy Expo event!

We are honored that we got the invitation tickets for the Wealth Academy Expo organized by Adam Khoo Groups on 22/23 May 2010.

Unlike any other seminars, this event covers a wide range of topics such as Investment, Trading, Financial Literacy, Internet Marketing or even Fengshu in this 2 days event.

Mainly the seminars are very well diversify with each of everything that people might be interested though the seminars does not cover deeply into individual topic but particularly good for general ideas.

The event is still open till tomorrow if anyone is interested.

Event Details

Event: Wealth Academy Expo 2010
Location: Singapore Expo Hall 2
Date: 22 – 23 May 2010
Time: 9.00AM – 8.00PM
Admission: By Tickets

SIA net profit increase six-fold to S$278 million!

On 21/May, Singapore shares end over 3 months lowest Friday as the constant worries over the impact of the Europe debts on world economics growth dampened the mood of investors.

STI ended 52.31 points (2.1%) lower at 2701.2 (lowest since Feb 8) with LOW VOL of 1.49 billion shares traded compared with 1.74 billion shares Thursday. In the broader market, loser outnumbered gainer 442 to 89. Today STI drift directionless for the whole trading session after a gap down due to HSI closed for public holiday. However it managed to keep itself off the intraday low of 2678.22 with low trading activity to signify the buying pressure from bargain hunters.

CIMB expects to see some bargain hunting but said expects further downside in coming days and does "not advice investors to hold positions over the weekend."

Headline in STI

After market close

Sembcorp Industries Ltd. (U96.SG) reported Friday that they has proposed a tender offer to take over the New York-listed waste water company Cascal N.V. (HOO) at US$6.75 a share

Singapore Airlines Ltd. (C6L.SG) said Friday that their net profit for first three months increased more than six-fold at S$278 million compared with S$42 million a year earlier due to improvement in demand for air transportation. The result was slightly better than the average forecast of S$240 million by five analysts.

Important Resistance of SIA: $14.50

Immediate Support of SIA: $14.02

MY sentiment on SIA: Today SIA managed to close off its low to mark a “hammer” at the important technical support/200 days MA at $14.02 despite huge gap down at STI. SIA has been supported well for the past few days since we can see many “hammers” in prices zone between $14.50 and $14.02 in the daily charts. All these hammers have shown that the investors are still optimized about SIA earning reports and choose to hold their positions instead of selling off. Although SIA beats the forecast but worries over Europe zone debts issues may take precedence over the earning report, thus “sell on earning report” may take place on Monday.

Chartzones: Noble, Singpost

Today Noble just broke through its important neckline support and close lower at $1.7 with high VOL of 55.9 million shares traded.

A long black bearish candlestick with long upper/lower shadow indicates that the bears and bulls are having a furious war zone there.

The logic is simple.

1)     Bear short noble after it drop past $1.73 neckline

2)     Bulls trying to regain their position but only managed to recoup some of its loss.

Noble are expected to have another day of WAR tomorrow with high trading activities. Support at $1.62 will be another gate for the bears which already been tested today but further sell off will be expected if broken. But of course bull would try to push through the $1.73 support turned resistance as well.

Important Resistance of Noble: $1.73

Immediate Support of Noble: $1.62

We would not advise investors to enter now unless you are shorting since the direction is unclear and very volatile at high volume.

Nothing special about Singpost but just curious why no one ask me about buying Singpost at all.

All the while Singpost managed to hold onto its gains despite STI have a pullback.

Hope readers can change their mind when they see this chart.

Do not enter if Singpost drops below its 50 days MA which has been supporting the prices all the while.