On My Radar

IndoAgri: Breakout Resistance 85.5c 6 days ago, retested and rebounded yesterday, mid term target 1.02(200ma).

 Oxley: Consolidated for a tight range for multi-months. Imminent Bullish breakout is possible.

 HPH: Hit its multi months support at 92.5c and rebounded. Target 98c.

 Del Monte: Profit taking led to sharp fall after it hit new high 99c on Oct 16, Entry price range 80c-78.5c. target 94.5c.

Weekly Wrap

For the week,US market continue its bullish run. All three major indexes rose, Dow and S&P 500 had its 3rd week rebound in a row, while Nasdaq had its 6th weekly green candlestick, hit new high this week again. In comparison, Asian stocks have been obviously weak, indicating outflow of funds continues. Shanghai stocks lost 60.83 points or 2.8% for the week to close at 2132, the weakest index.

STI gained 12.34 points or 0.4% to close at 3205.24, the weekly candlestick is a doji, indicating market was indecisive of upside/downside move. For coming week, to monitor immediate support 3200 and resistance 3265 for early direction. Refer to below table for major indexes weekly performance.

STI weekly chart.

Friday Indicator

Daily morning message from facebook "Trader Kakis Group":

Oct 25 Fri stockwatch

It's last trading day of the week today. STI hit its five-week high of 3235.25 this week. It rebounded up after dip below 3200( low of 3199.38) and closed 13.15 points up to 3218. This immediate support is at 3200, I'm bullish as long STI can hold above 3200, the major resistance to look for is 3265.

Stocks to focus for upside move today:
Biosensor
Sembmar
OKH

Pennies:
Chasen
Innopac
Asiasons

Long Candidate: Biosensor

Biosensor up by 4c or 4.1% to close at 1.01 today. It had breakout from resistance 97.5c and major down trendline. 97.5c now become a support level. Expect more upside to come with immediate target 1.075 then 200ma at 1.11.

Stockwatch for Oct 22 Tue.

Oct 22 Tue stockwatch

It was said the STI would slowly crawl up till end of the year. STI closed little change today with 2.86 or 0.1% up at 3195. The 3 stocks are in focus:

Asiasons +91.4%@0.245; Blumont +80.5% at 0.24; Liongold+92.8% @0.295. further rebound is expected. continue to monitor closely. Also in the focus list:

Genting sp
Rex
RH petrogas
YHM
ChinaEnv
Chasen Holding

Stockwatch

The three designated stocks namely Asiasons, blumont and LionGold will be lift and trade as per normal start from Monday.

ChinaEn is on nice uptrending now, more upside is expected.

Stocks to watch:
Asiasons
Blumont
Liongold
Rowsly
Chasen hlding

Weekly Wrap

For the week, major indexes rebounded after the US government settles debt limit saga.

Nasdaq rose the most with 3.2% or 122points gain. new year high.
S&P and Dow also had 2.4% and 1.1% gain. But Asian markets Hang Seng, STI and Shanghai didn't react much on the news. Hang Seng added 0.5%, STI 0.4% up and Shanghai lost 1.5% for the week.
The funds seem continue flowing out of Asian market and back into US.

STI closed at 3193 this week, just above 3190 YEC and 3167 YEC. The weekly candles shows bulls not strong but still in control. I'd rather bullish bias than bearish.

STI major resistance 3165; major support 3190-3167.

Fed New Chairwoman, US Debt Ceiling

Weekly Wrap

For the week, major indexes rose after the US government good news from the debt ceiling negotiation. Among the six major indexes I monitored:

Shanghai index(SSE) gained the most with 2.5% or 53.48 points to close at 2228.15, reversed up from its 3-week retracement, bullish for coming week;
Straits Times Index(STI) gained 1.3% or 41.63 points to close at 3179.71, reversed up after hit its 4-week low, the weekly candlestick is green but was capped within previous big red candle( heavy selling-off). Direction is uncertain, will be up only got substantial buying force.
Dow Jones Index(DJI) weekly bullish reversal after it hit 14-week low, bullish for coming week;
S&p 500(SPX) bullish reversal after hit 5-week low;
Nasdaq( COMP) bullish reversal after hit 5-week low. Refer below table for major indexes weekly performance.

STI weekly chart, reversed up to above 3167 YEC, in between 3167-3190 now. Bulls and bears are fighting and it's not decided which camp will win.

Genting SP: Bullish above 1.40

Genting sp -Long
Major support-1.40

Weekly/Monthly Wrap

For the week, major indices fell from US to Asia. STI dropped the most among my six indices, lost 72.1 points or 2.2% to close at 3138.08. The weekly candlestick is bearish, I'm bearish for STI unless it broke above 3265 level( 50% fib, not shown in the chart below)

Index weekly performance:

Index monthly performance for September.

STI weekly chart:

Long Candidate: UOB

UOB - Long
Entry - 19.8-20.0
Stop - 19.3
Target - 21.78

UOB has been in trading range since May 2013, the stock close near the low of the range setting up the possibility of a long entry between 19.8 and 20.0. while its 200 daily moving average is at 20.0, which could support a major support. If the stock reverses off this level while the broad market regains its bullish footing, there wouldn't be much in the way of technical resistance to stop price from returning to prior highs. With a stop placed 1.5X one daily average true range measure below the entry range, this setup has an approximate reward to risk ratio of 3.56 to 1.00.

STI Turns to Bearish

STI lost 30points at 3151 as I'm writing now(4.38pm), breaking below my two key support level 3190 and 3167. Further downside is expected. it may test 3130 then 3065 level if dropped further.

US Government Begins Shutdown