Friday Indicator

STI dropped 29.75 or 1% yesterday to closed at 3011.82, picture of downside move started to unfold.

Important reminder: Today is the last trading day of the month. Be careful of "wild" reaction in the opening just like last month, though it's not always happen. STI gapped down huge at open in the last trading day of last month, created low of month at 2985.

STI is still holding above 3000, though it broke back of 3025 yesterday, together with the falling window level at 3041-3033, they become resistance for STI now.

STI Friday indicator level to watch:

61.8%: 3039
50%: 3032
38.2%: 3026

It's bearish if STI can't close at least the 38.2% level.

OUE Breakout

STI little change today, has been in range trading throughout the whole session. It slightly up by 1.5points on close(3041.57).

OUE breaking out today after last week consolidation, upside move resumed. it closed 2.48, up 3c today. Talk again.

STI in Sideway consolidation

Good morning! I have little to say as STI is basically in sideway consolidation mode over past two trading days. it dropped 6 points on Monday and 4 points on Tue. A little bit weak but not heavy selling, STI is still within last week trading range.

Will update you again.

CDL Hturst

CDL Hturst posied for more upside with high volume. it closed at 1.96 on Friday.

CDL Hturst: Long
Enter: 1.98
Target: 2.09
Stop: 1.89

Weekly Pivot

STI weekly pivot levels for the week start 27 Aug. It will be last week for the month.

R3: 3110
R2: 3091
R1: 3070
PP: 3051
S1: 3031
S2: 3012
S3: 2991

S1, and S3 are the classica support level for STI as well.

Weekly Wrap

US market rebounded on Friday, after  four days consecutive down. The DJI up by 100 points to closed at 13157. The broad market index SPX gained by 9 points to closed at 1411.

However, for the week, DJI still down 117 points, while SPX lost 7 points. Both indices showing a red weekly candle, after six weeks green in a row. Both indices are at their "top" of the trend, facing immediate resistance overhead, it can turn head north anytime but it still early to confirm the uptrend is over. Both indices uptrend are still intact.

As for STI, it has been in the sideway manner over past two weeks, consolidation phase. I'm bullish as long it stays above 3000 support  level. Next target is 3190.

ManhattanRes: A Forgotten Gem?

Manhattan Resources dropped more than 50% to recent price at around 63c from 1.30 one year ago.

its major support is at 63c, it has been consolidated at this level for past five weeks already, it got a bounce this morning to 73.5c, up by 6c(11.39am). There was a substantial 1.5m shares buy order done at 70c early morning. It appears there are plenty of room to upside with target at 90c.

Friday Indicator

STI facing immediate upside resistance at 3072 level, it rebounded all the way up to this level from Thursday's selling off then was selling off down again, closed at 3056.37.  The major support level is 3000 if it were to retrace back. US market retreated last night after two weeks up without any retracement. DJI dropped 110 points to closed at 13057, SPX down 11 points at 1402--its biggest drop in the month. This will add some downside pressure to STI.

Friday indicator for today:

61.8%: 3059
50%: 3054
38.2%: 3049

Long Candidates with high volume

I have few long candidates with high volume( volume is at least 30% higher than its vol 50ma), with their closing price.

Wingtai 1.465, nice uptrend
Sakari: 1.48
CDL Trust: 1.93

Bumitama Breakout

Bumitama Resources: breakout out today with high volume, after more than two weeks consolidation. Nice uptrending.

CMA Retraced to Support

CapMallsAsia(CMA) had a breakout of its resistance at 1.64 couple of weeks ago, it went to as high as 1.70 then retraced back to 1.645 on last Friday, it's trading at 1.66(9.13am) now. rebounding from support 1.64. Poised to move higher.

Long Candidates

FE Orchard( Orchard Parade): In a nice uptrending. more upside is expected. 2.37 now.

 ST Engg: breakout and standing firmly above 3.31, ready for more upside move. 3.34 now

Weekly Pivot

Good morning.

We have only four trading days this week due to holiday. Weekly pivot levels for the week start from 20th Aug.

R3: 3129
R2: 3108
R1: 3085
PP: 3065
S1: 3041
S2: 3021
S3: 2997

Weekend Wrap

Hello everyone, I'm going to do a short summary for the week, as I'm leaving tomorrow morning for my two days holiday. Meanwhile, enjoy your hari raya holiday.

For the week, Major indices uptrend is well intact. US market continue up,major indices DJI +67 or 0.5%, closed at 13275; SPX +12 or 0.9%, closed at 1418. STI this week gained slightly with 7.91 or 0.3% to closed at 3062.
STI closed below the 50% level 3066 as I posted in one post back, but the weekly candle is still in green color and it's above the major resistance turn support level 3030, refer to STI chart.

The VIX index dropped new low (since 2007) to 13.45, indicates market is in "fearless" mode.

Friday Indicator

Good morning!  Time flies fast. It's Friday again. The US market continue to move up last night after past seven trading days of narrow sideway consolidation. DJI gained 85 points to closed at 13250. My Las Vegas Sands (LVS) up by 1.82 or +4.62%. It should give some bullish momentum to genting sp today. Genting sp as I posted yesterday had breakout from its bottom consolidation, more upside is expected.

Friday indicator levels for STI:

61.8% 3072
50%: 3066
38.2%: 3061

STI closed at 3062 yesterday. It has been trading sideways in the tight range this week. I'm bullish if it can close above 3066.

Genting Bottom Out

Genting formed a double bottom, breaking out now with target 1.40

Wilmar: Countertrend Trading Opportunity

Wilmar jumped off cliff due to big profit earning loss in the company's latest result annoucement( more than 70% drop if i'm not wrong), as a result, it gapped down 24c or -7.1% to closed at 3.15, it dropped to as low as 3.04 in the day. It's an angel drop from heaven to hell or it's just showing its true color? All I know is it's an angel unless it go up back to "heaven" again, its recent high is 6.0 in Feb this year.

From technical perspective, it formed a doji yesterday, I'm looking for a quick bounce if it were to trade higher than 3.18 candlestick high, with 10-20c profit target, purely counter trend trending with no faith.

Trend: down
Long Signal: doji at support
Risk: high
Bullish divergence is seen in its MACD.

Market Screener

STI closed at 3087 with 23 points gain, it hit new high today with 3088.45. Both total volume and value for the day are substantially higher, total volume is 2062m and total value done is 5329m, which indicate substantial money flow into the market.

High Volume Counters(at least 30% above its vol 50dma) with today's closing price:

ChinaMinzhong 72c
Cosco 1.015
Ezion 1.06
Ezra 1.055
Genting sp 1.28
Guocoleisure 58c
Hi-P 92.5
IndoAgri 1.425
NOL 1.23
Noble 1.25
STX OSV 1.65
starhub 3.77
Swiber 60.5c
wingtai 1.41
YZJ 1.02
Yanlord 1.275

IndoAgri Breaking out

Indoagri is breaking out from its consolidation 1.40, more upside is expected.

Sakari Poised for Retreat

Sakari Resources formed a nice big bearish candle yesterday, after nine days in a raw strong rebounce. it hit channel top at 1.51 then seller come in now. Channel bottom 1.25 will be its support target.

Yanlord Breaking out

Yanlord at 1.25 now, breaking out from its consolidation. Further upside is expected.

Weekly Pivot

STI weekly pivot level for the week start from 13 Aug:

R3: 3124
R2: 3105
R1: 3080
PP: 3061
S1: 3035
S2: 3016
S3: 2990

Weekly Wrap

US market had a positive week again. So far, Dow Jones Industry Average Index and S&P 500 Index both have had five weeks up in a row. The broad market index SPX gained 14.88 or 1.1% this week, closed at 1405, which is right at its major resistance level. Its weekly candlestick looks bullish, choppy movement is expected in coming week as it approaching this major resistance level 1405.

For Singapore market, STI formed a red candle this week but still closed with 2.87 points or 0.1% positive at 3054 level, it has yet had any major retracement after nine weeks strong upside. Overall uptrend is still intact, immediate support is 3030 level if STI were to retrace, which is its major resistance turn support level. STI had breakout 3030 one week ago. Next major target is 3190 if STI to move upside, which should take some time to reach there.

Friday Indicator

Good morning. We have only four trading days this week due to National Day holiday.

STI is still bullish to upside, uptrend is intact as well.
Friday indicator level:

61.8% 3070
50%: 3065
38.2%: 3060

Happy National Day Singapore!

Dear Readers,

Happy National Day and have a great holiday.

Sembcorp Breaking out

Sembcorp: breaking out its resistance 5.37 after past two weeks consolidation. Currently 5.4 as at 9.37am, more upside is expected.

Indoagri

Indofood Agri breaking its resistance 1.41 to upside now. Further upside move is expected..

Weekly Pivot

STI pivot level for the week start from 6 Aug.

R3: 3147
R2: 3101
R1: 3076
PP: 3030
S1: 3005
S2: 2960
S3: 2935

Weekend Wrap

Hello!

US market closed higher on good non-farm payroll result. For the month of Jul, major indices closed positive, STI gain the most with 5.5% up. Below is the major indices performance for Jul.


Long Candidates for coming week:

Yanlord
CMA
Cosco
Genting sp
HKland

Hkland

Hkland at support rebounding now.

Long Candidates

STI having a nice upside moving today, it geting higher and higher without looking back. It trading at 3048 now 4.05pm. Reaching its recent high again. Long candidates:

Yanlord: rebounding from support, 1.215 now.

CMA: It dipped below its support 1.64 this morning but just made a come back to above it, at 1.66 now, more upside expected.

The Breakout Play

Below stocks had a breakout to upside yesterday:

Fragrance
Osim
Wheelock

Friday Indicator

STI hit new high to 3054.9 yesterday, the STI component stocks are pushing the index higher, other than that, the second and third liner stocks not much movement. Today, STI pulled back a bit from yesterfday high to closed at 3036. STI immediate support is 3025, which is resistance turn support level.

Firday indicator for tomorrow:

61.8%: 3028
50%: 3020
38.2%: 3012

The trading range for this week has been tight so far. As I'm writing, the US market dropped a bit, dji down 50 points now but not much selling pressure. Singapore market has been outperforming its peers, it was believed the funds are flowing in to local market, partially attribute to the strong Singapore dollar and some of the undergoing takeover and privatises, such as F&N, Isetan, CerebosPac.