Market Diary:
World Indices:

Thursday, August 23, 2018

Capitaland Breakout From Downtrend Line $3.39

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Tuesday, August 7, 2018

Wing Tai Holdings (W05) $2.08

Wing Tai holdings is currently trading at the upper boundary of a downtrend channel. Although some trading systems (eg: CSI) have already issued buy signal, I would prefer a break above $2.15 as a safer entry. This is the price where the stock is :breaking out from the downtrend channel, a resistance level at $2.14 and the 200 days moving average. 


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.