Market Diary:
World Indices:

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 )


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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.   


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Monday, March 23, 2015

Biosensor Breakout !

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


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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.


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Sunday, February 22, 2015

STI Technical Analysis

The Straits Times Index has been trading in an uptrend channel since Feb 2014 after a breakout occurred from an Inverse Head & Shoulder pattern.  The trading range of the channel is pretty wide.   Currently, it is about 3/4 from the upper boundary where RSI is not overbought yet.  Therefore, there might be further upside potential.  

There are, however, two observations that deserve attention : 
1. There may be a RSI bearish divergence under development ( unless the RSI do swing higher with rising prices ), 
2. The gap up on January 23 may form an "Island"  leading to an Island Reversal if this gap is closed with a gap down.

These two observations are pre-emptive in nature or something that we need to be cautious about. It is not something that will definitely happen.



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Saturday, October 11, 2014

Volatility Returned, Market Bearish Bias

Last week, volatility returned to the world stock market.  The Dow whipsaw between positive and negative with triple digits gain and loss.  Friday's closing at 16,544 ( -115.15 ) has breached a long term uptrend line.

Locally, the STI has been testing the vital long term support at around 3,223.  It has been proven that 3,223 is an extremely strong support level because it has been touched multiple times confluence by Fibo 38.2% and 200MA. 

That said, I am bearish bias of the market because a quick scan after market close cannot find a single new long but many new short.

It may be wise to take a defensive role and watch to see whether 3,223 will be breached. Once penetrated, the next supports are 3,170 and 3,120.



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Monday, October 6, 2014

Sunvic Chemical - Breakout From Resistance

Sunvic Chemical Holding ( A7S ) - Breakout from multi-months resistance last Friday.


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Thursday, October 2, 2014

STI Technical Analysis

The Straits Times Index has lost 160 points from July 31's peak ( 3,387 ) to Oct 2's trough ( 3,227 ).  The closing today was the support for the previous 4 troughs coincided with Fibo 38.2% and 200MA.   RSI is already oversold.  Chances is we may find some support at this level.  If, however, this support is taken.  We may look forward for 3,170 and 3,120 which are Fibo 50% and 61.8% respectively.



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Tuesday, September 30, 2014

SBI Offshore Update

SBI Offshore ( 5PL ) - Ref my post dated Sept 11, SBI did move as expected.  It has rallied in a steep fashion from .285 on Sept 11 to .48 today - a gain of 68.5%.


Counters Removed From Watch List :
Triyards was removed because it was not triggered.  Hongkong Land was removed because the ascending triangle was invalidated. 

Counters Added To Watch List :
UE E&C Ltd,  Cogent and Tuan Sing Holdings

Counters Continued To Hold Long :
ThaiBev and SingPost - because both continued to stay above support

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Sunday, September 28, 2014

Singapore Stocks - Technical Analysis


SembMar ( Bearish / Long Term View - Not For Trading )

On Feb 15, 2014,  I posted a chart for SembMar showing it has broken down from a Descending Triangle.  Since then, it has taken SembMar several months to complete the 'return move' and resume the the downtrend to hit the trendline violation target.



OCBC ( Neutral / Long Term View - Not For Trading )

In early August, OCBC breakout from a downtrend line and since then going through a 'return move'. The 'return move' appears to have completed in early September and currently supported by an uptrend line.  It is worth watching whether the uptrend line can hold as well as whether this observation is correct.




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Tuesday, September 23, 2014

SingPost - Potential Breakout

Singapore Post ( S08 ) - Attempted to breakout from a trading zone today with reasonably high volume.  Unfortunately, it has failed to close above the last significant high at $1.795 so ended up as a false breakout.  In order to constitute a valid breakout, a decisive close above the congestion zone with high volume is required.  Once a breakout is successful, we may expect 20 ~ 30 cents of upside potential.






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Sunday, September 21, 2014

Innovalue - RSI Bearish Divergence

Innovalue rose from .28 on Sept 6 to .365 on Sept 16.  A 30% growth or 8.5 cents in 10 days. RSI is now showing a bearish divergence cautioning the stock is losing upward momentum. Perhaps it is time to take some profit off the table if it has not been done yet.


Thursday, September 11, 2014

SBI Offshore Analysis

SBI Offshore ( 5PL ) is consolidating in a possible bull flag formation ( although not a textbook fashion due to a false breakout ).  It is worth watching because there may be another leg of steep rally equal the length of the flag pole should a valid breakout occur.  The red colour bars in the MCD indicator shows sign of institutional investor presence.





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Tuesday, September 9, 2014

Innovalues - Update

Innovalues ( 591 )  closed at $0.315 today,  3.5 cents or 12.5% higher than last Friday's close of $0.28.  A fresh CSI buy signal has surfaced today with a trigger at $0.320. 

CSI is a proprietary trading system of Mr Collin Seow, CFTe.



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Saturday, September 6, 2014

ThaiBev - Potential Breakout

Thai Beverage ( Y29 )  has arrived at an important chart point.  It is making a 2nd attempt to retest a multi-months resistance at .71 and managed to close above it on last Friday. A decisive breakout may see prices excel to new high.


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