Market Diary:
World Indices:

Saturday, February 10, 2018

Market Analysis

Straits Times Index (STI):

The STI has retraced 194 points since January 24 at the back of high volume during the sharp plunge. It has found support at Fibonacci 23.6% confluence by the uptrend line and 200MA. It is likely the correction is not over yet. Next few major supports are 3200 (Fibo 38.2%), 3060 (Fibo 50%) and 2950 (Fibo 61.8%).

Despite the correction this far, the uptrend is still intact but not if the uptrend line and/or the 200MA is broken. At its current state, it warrants "Long Exit" but not "Short Entry" yet. 

Dow Jone Industrial Average (DJIA):

The DJIA is currently supported at Fibonacci 23.6%. The uptrend is still intact as of now but not if the 200MA and/or the uptrend line is broken. Next few supports are 22400 (Fibo38.2%), 21000 (Fibo 50%) and 19600 (Fibo 61.8%). I don't quite believe the correction is over yet, it may last for several weeks if not months.

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Capitaland Updated Chart ( Ref original post January 16 )

On January 16, I suspected Capitaland was trading at the upper boundary of a trading band and may u-turn after touching it. Below are the original chart and the updated chart:

January 16 Chart:

February 10 Chart:

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Yangzijiang Updated Chart ( ref original post January 10 )

On January 10, I casted doubt on the potency of the upswing of Yangzijiang. One month has gone passed, the market has proven me correct that the upswing at that time was just a 'return move' aimed at touching the broken uptrend line and thereafter Yangzijiang has to take the toll of breaking the uptrend line. 

January 10 Chart:

February 10 Chart:

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Tuesday, January 16, 2018

Capitaland (C31)

Capitaland has been range bounced within a trading range of $3.45 ~ $3.80 since a year ago. Price action has arrived at the upper boundary of the trading range and RSI is overbought. The upper boundary is a multi-year strong resistance. It is wise to observe if prices is able to break the resistance or will it succumb to the resistance. 

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Wednesday, January 10, 2018

Yangzijiang (BS6) - To buy or not to buy?

Based on RMO Trade Model, a fresh breakout buy signal has surfaced. A new long can be taken:

However, classical technical analysis reveals a possible scenario where "history may repeat itself". Current price action ressemble Aug 2015 where the uptrend line was broken. After a 'return move', prices turned bearish. In view of the doubt, it is advisable to adopt a wait and see strategy instead of taking the new long based on the RMO trade model buy signal. 

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Sunday, January 7, 2018

MetaStock XV ( ver 15 )

Finally, upgraded my MetaStock 10.1 (bought in 2009) to the latest version MetaStock XV (ver 15). There are many improvements, new features and new indicators such as below:

A quick look at STI using the RMO trading model. The index has been bullish since January 2017. There is new buy signal surfaced in the weekly chart ending last week:

Monday, May 25, 2015

SATS ( Follow Up )

Exactly three months since I last posted a Point & Figures chart of SATS with a target of $3.428, this target is almost met today :

Stocks worth looking at are ( because there is evidence of presence of funds ):
Innovalue ( my all time favourite of late )
IHH Healthcare ( probable symmetrical triangle )
Q&M Dental Group ( probable swing trade setup, provided it does not decline further )
Koyo International ( speculative )
Hock Lian Seng ( speculative )


Monday, May 4, 2015

Biosensors Update

Nearly six weeks since the Ascending Triangle breakout, prices have now arrived at the resistance of Fibonacci 61.8% confluence with a probable RSI bearish divergence.   


Monday, March 23, 2015

Biosensor Breakout !

Biosensor break out from a congestion zone and 200 days moving average :


Wednesday, February 25, 2015

SATS Limted

SATS has successfully breakout from a downtrend line has closed with a higher high today at $ 3.13:

Updated ( March 1, 2015 ) : 
The same stock in Point & Figure Chart which provide unambiguous price target projection by mean of vertical count method :

Please note, however, that the word "unambiguous" does not mean infallible. Also, it will be naive to think that prices will rise in an uninterrupted fashion to reach the price target of $3.428 from here without any pull back in between. Instead, this price target is a mid term target ( few weeks to few months ) after surviving from a series of up and down moves.