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.

DBS Seen Bearish Divergence

Warning for bulls, DBS ascending run-up may come to an end as heavy sell-off seen for past two days. Not only that, a bearish divergence on MACD indicator is seen. DBS might retrace back to its support at 17.67, where its last run started.

Keppel Corp Started to Drill Deeper

Ezra: Surge comes to End?

Ezra after surged about 48% in four days, it hit 1.335 resistance, tested it and resisted by it. It formed a long-legged doji today, which is bearish at resistance level. However, confirmation is needed tomorrow on candlestick reversal rule.

Sembmar Hit its Major Resistance

Sembmar(SMM) added 8c closed at 4.55 today. Rebound back to its major long term downtrend line--since 2011 historical high. It has never been violated so far. Refer to chart below:

 On the other hand, a closer look at its recent price action, it seems forming a double bottom formation( NOT yet confirm), if double bottom formation confirmed, the first target price is 4.83. To confirm, it needs to close above neckline 4.55 and also broke above its major downtrend line at 4.6.

YOMA Break Down

YOMA broke its uptrend line support and MA support, poised for more downside.

Olam Sell Off Hard

Olam dropped 13c or 7.5% today to 1.61 at the close, after the short seller Carson Block questioned accounts.

This is how its chart looks today. Not sure how many of you still remember my previous post about Olam 10 days ago on 10 Nov, (click HERE), I said it will drop further but I have no idea how it will do that. Anyway, my target 1.1-1.2 remains. Let's see how will it work out. (Remeber: It will not go down one straight line).

Olam Poised for Further Downside

My first time identified Olam got a Head and shoulder pattern was on 25 May, 2012( click HERE ), then following post on 2 Jul (click HERE ), Now I want to show you a perfect classic text book example for

1. Head and Should pattern,
2. breakout and pull back
3. Test of neckline( support turn resistance)

Sembmar Poised to Downside

Sembmar broke its support 4.95 yesterday. Further downside 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.

Cosco Breaking to Downside

It's a pump and dump day for STI. It closed at 2998.49, about 2points below 3000.

Cosco broke its major support level 96.5c today. More downside is expected with target 90c.

Olam Vulnerable to Further Downside

As I posted previously for shorting candidate Olam on Jul 2, 2012. (click HERE for details) Olam resumed its downside one month consolidation, with target unchanged at 1.225 still.

Olam Still Expose to Downside Risk

As I posted on May 25 for Olam's H&S pattern( click HERE) it has bounced up a bit after the plunge, but it still under selling pressure, take a look at below updated chart. Anyway, the first sign to watch for more upside move is if it break above its downtrend line(red color) at around 1.90. Otherwise, my target for downside still remain unchanged at 1.225.

Olam Head & Should Pattern

Olam has broken out from a long term Head & Should pattern with downside target projected to 1.22.

Short: First Resources

FirstRes has rebounded all the way up to its major resistance at 1.36. A nice shorting candidate with stop loss at 1.375.

The Vunlerable Shorts(2)

GLP

NOBLE

OCBC

UOL

The Vunlerable Shorts(1)

SIA Engg has no strength to rebound at all in the recently market run-up. My first shorting candidate with target 3.45( recent low).

Citydev approaching its major downtrend line, I'm waiting for a bearish reversal candlestick to confirm my short, otherwise it could break to upside. The weakness is evident by the diminishing volume with upside run.

Citydev Hit Major Resistance

Citydev appears as a nice shorting candidate(real time chart below):

New Batch of Possible Shorting Candidates

STI fell-out from its consolidation range, and getting lower and lower now.  I do expect further downside to come.

Wilmar in the range of 5-5.3 for long time, breaking out from the range will initiate new move.

How long time can F&N stand steady? I'm waiting for it to break out its triangle formation.

Last one the hopeless NOL....

Look "Down" on STI

STI hit high of 2720 in the morning soon came down to 2700 and lost it. The bulls give up and bears pull STI to 2672 (-35points) at 10.15am.

Below is my shorting candidates with resistance level(stops):

Genting: 1.605
Citydev: 9.75
Olam: 2.35
OCBC: 8.38