SPC & Capitaland
The Market:
There is nothing new I could say in addition to my last post on Thursday. STI is drifting sideways. We need to observe whether it will bounce back to retest 1,947 or to break the 20 moving average and edge down to the respective Fibonacci targets.
There is nothing new I could say in addition to my last post on Thursday. STI is drifting sideways. We need to observe whether it will bounce back to retest 1,947 or to break the 20 moving average and edge down to the respective Fibonacci targets.
SPC ( Watch For Breakout ):
Since my last post on March 31, SPC has risen 60 cents after successful breakout from the resistance. It is now one of the few uptrend stocks strong enough to hold on to the 10 moving average ( while many have withdrawn to 20 moving average ). The upcoming week will see SPC testing an up trendline confluence with the 200 days moving average. If it is able to break both successfully, more upsides can be expected. Targets are marked in the chart !
Since my last post on March 31, SPC has risen 60 cents after successful breakout from the resistance. It is now one of the few uptrend stocks strong enough to hold on to the 10 moving average ( while many have withdrawn to 20 moving average ). The upcoming week will see SPC testing an up trendline confluence with the 200 days moving average. If it is able to break both successfully, more upsides can be expected. Targets are marked in the chart !
Capitaland:
Friday's closing sat exactly at the trendline shown in the chart. If we are lucky, it may bounce back from here. But chances are it may break the trendline and head down to the next two Fibonacci supports at 2.4 & 2.25. I am beginning to accumulate this counter for position trade. If it does bounce back, 2.69 ~ 2.70 will be swing trade entry and 2.57 is cut loss point.
Friday's closing sat exactly at the trendline shown in the chart. If we are lucky, it may bounce back from here. But chances are it may break the trendline and head down to the next two Fibonacci supports at 2.4 & 2.25. I am beginning to accumulate this counter for position trade. If it does bounce back, 2.69 ~ 2.70 will be swing trade entry and 2.57 is cut loss point.
PS: Cosco..... I was quite excited at the first glance but not sure if it is so rosy after taken a harder look.
(my own notes: Wilmar 3.45, Indo .86, Capland 2.4, 2.25, spc 3.3 )
(my own notes: Wilmar 3.45, Indo .86, Capland 2.4, 2.25, spc 3.3 )
Labels: Market Direction, Stock Pick
posted by Market Wizards @ April 26, 2009
Comments: 0
