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.