Property Stocks Near Resistance

FTSE ST Real Estate Index has rebounded since last week. Comes to its major resistance level now.

 FTSE ST Real Estate Index component:

Capitaland and kepland are just beneath their resistance as well.

Hongkong Stocks Bullish Setup

Few Notable Charts

Pacific Radiance

As I first posted on 19 Oct( click HERE), it had 2.3% gain in this week, close at 1.11. Further upside is expected. As seen in its weekly chart below. Major support level at 1.085-1.03, target is 1.28.

Singpost: The one and the only blue chips in SG market has been keeping its nice uptrending so far.

Vard: dropped below its IPO price 66c this week then rebounded. immediate target is at 79c which is support turn to possible resistance level.

Weekly Wrap

For the week, world major indices rebounded, after four weeks losing streak. Nasdaq gained the most with 5.3% up, S&P 500 had 4.1% and Dow Jones 2.6% up too.

In Asia, STI had a white candlestick finally after five consecutive black candles(refer to below weekly charts). HSI up by 1.2% as well, albeit in its 4-week trading range. SSE however, had its 2nd week retracement. It lost 1.7% for the week.

STI hit 3167 level YEC last week, and rebounded as I expected. The strong support for STI is at 3190-3167 area. whereas major resistance is at 3300. 

HSI closed just 4 points below its start point this year 23306. It closed at 23302. I'm still bullish on HK market, given the Shanghai-Hongkong Connect should be start before end of this year.

 SPX hit its major ascending line last week and rebounded strongly this week, major uptrend has been well intact. (refer to below weekly chart).

It's All About Attitude

Few Bullish Setup

M1
OCBC
Pacific Radiance

Weekly Wrap

For the week, it's a sea of blood. US markets had a huge spike down but recovered on Fri. DJI had rallied 263 points on Fri, first day up after six days consecutive down. Left a super long tails on its weekly candlestick. Do watch out see if 16380 key level can be held in coming week.

STI closed at 3167 marks, which is same figure from where it started this year. It has given back all its 2014 gain so far. 3167 level is also the 50% level of its high-low as shown in below chart. Do watch out for 3167 level as key support in coming week(s). The next major support is expected to be the ascending line at 3095 level if 3167 failed. Its weekly candle looks bearish.

HSI close level on Fri already below its 2014 start 23306. we shall see if it can rebound back above 23306 in coming week. Given the possible Shanghai-Hongkong Connect is expected to be launched soon.( No exact date yet).

Uncle Dow Tumbled but Recovered Halfway at Close

The DJI had a hard tumble last night, with intraday loss of 460 points but managed to recovered most of its loss. It close with 173 points down.

The VIX or CBOE volatility Index, often viewed as a measure of market aniety, jumped 15% to 26.25, it crossed 30 intraday. It's very bearish if it crossed 30 marks for VIX.

Developer Valuation

Singapore developers are under great sales now.

STI Hit 6-Month Low Today, Break Down 3220 Level

Update from FB "SgTraderClub":

@4pm. HK closed positive 55points at 23143. 23000 mark lost and found( 失而复得), it dived more than 200 points before lunch.

AIA(1299.HK) open gap-down to 40.3(day low) then recovered and closed for the day at 41.9 HKD, +70c higher than last Fri close.. A big swing. The Com. will release 3Q results on 17 Oct, market expects new business value will grow by 20-22%y/y, analysts have been revising target price. pls refer to my 2 Oct post for TA.

China Coal sector is turning to positive after government policy announced recent to place tarrif on coal imports. This will give advantage to domestic coal producer. Consider China coal 1898.HK @4.83 today.

STI -25points at 3198 now, broke below its recent(last week) support 3220, the index isn't following HK's rebound. It crossed below 200MA today as well. The bears are take charge now.

Weekly Wrap

For the week, US markets had its 3rd week decline in a row. DJI lost 2.7%, while the Nasdaq lost 4.5%--its 4-mth low. It's a sea of blood.

The Shanghai index in its 3rd week gain, albeit a smaller gain. HSI managed to hold above 23000 level for the week, after its sharp correction from 25000 to 22600 in four weeks. Continue watch 25650 level as I mentioned in my previous post for immediate support level.

STI ended its 4th week in red, another 29.37 points or 0.9% down. The weekly candle looks bearish, the bears are in control. Immediate support at 3220 which was tested three times and rebounded in May 14.

 The VIX index surged 46% to 21.24 for the week, crossed above 20 marks which indicating market turned to bearish now.

HSBC HK/China Model Portfolio

Weekly Wrap

For the week, Shanghai index is the only index had positive gain. Hang Seng lost the most with 2.6% down in react to protest.

HSI dropped to intra-week low around 22656 level then rebounded. 22656 is its Year-End-Close(YEC) level, which is now as possible support. I think the fell in HSI due to protest is temporary and provide "buy low" opportunities. HSI will rebound as the Shanghai-HK Connect is going to kick start after China national day holiday.

STI weekly chart( as below) looks still bearish, hit its four-month low this week. It managed to rebound to just above 3250 support level.

AIA 1299.HK at Support

AIA 1299.HK appears to me as a very promising long candidate. It retraced recently from high of 44hkd to 40hkd, which is around major support level. Good entry price around 40, with target to at least 44 (10% profit).