C Buy or Sell ?

Friend from C asking if I would buy C now. I said not yet. He asked if I would consider selling at $5/- I said No way. He laugh! Answer is I am trapped?

Short term:
Broke 20d and 50d MA, Lower high and sideways, base on recent price movement. Trendline broken, MACD just has bearish crossover and RSI pointing down. Support at $ 4.00.
Volume declining and potentially a doule top formation!

Mid term:
Left chart- Confirming C reach bottom.
volume signifcantly increase. RSI attemp to break 70% 3rd time upward and try to cross ctr. line.
Zoom in closer to chart on the right, Price is supported by 20w, 50w MA. 20W MA waiting to crossover 50W MA and if that happen, bullish divergence!RSI, MACD are showing bullish strength.

Longer term : Significant volume accumulation. Since Feb, price is upward and trend is still intact. Bullish MACD crossover just happen in Aug and MACD histogram above zero. Downtrend line has broken since May 09. Now on sideways. Once the price movement breaks the 20m MA, it would become bullish.

Conclusion:

Near term bearish and hope correction near support at $4 to enter. Do watchout for market sentiment in case double top turn to major correction. Hence wait for rebound at $4 to confirm the entry.

For long term view, stock has touched bottom and volume has increased signifiacnt showing buyer interest. Downside risk is limited and upside gain for longer term cannot be ignore! Therefore selling now near resistance at $5.00 does not make sense.

-/-/-/-/-

o  o

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Biosensor

Plan:
Short term continuation pattern formation. Diminshing Volume.
Wait for high volume breakout to enter.
Huat ah !

CapitaMal

Stock approaching rising window...support at 1.71.

Plan to add position when signals are correct.

Asendas Reit

Plan:
Wait for 4R1G
Stochastic bullish crossover

Alcoa

Stock retrace and approaching fallig window at 13.45.
MACD and stochastic bearish crossover. Historgram below ctr appeared to be bearish.
Momentum and RSI pointing down.

PLAN:
Wait for 4R1G,
Watchout for bullish reversal candle

C

Stock retrace approaching 4.1 support. Secondary support at 3.08.

Lookout for the following entry signal:

• MACD Histogram 4R1G
• Rebound candle near support
• RSI rebound near 30%

STI showing some strength

STI manage to stay above 2700 for past 4 days. Daily chart, MACD stay above signal line, stochastics showing sign of bullish crossover approaching soon. Weekly stochastics showing some strength with bullish crossover. These suggested more upward push.  Bollinger  band is showing sign of expanding, DOW is trading near resistance, expect to have near term correction but overall uptrend still strong.

STI Fighting to stay abov 2700

• Dow drop last friday. As expected, today open with bearish sentiment.
• 2700 level strong resistance become key support with secondary support at 20d MA (2656)
• Weekly MACD still very much sideways and daily indicator seems to be more bullish.
• Plan : Watchout for stock with bullish crossover and near support. : ) Huat Ah!

Capitamall and Ying Li

STI continue to trade above 2700 resistance.
Decided to ente Capiitamall at 3.74 and Ying Li at 0.83. Both at near support with significant volume.
MACD 4R1G.

Huat ah!

STO Broke 2700 resistance Oct 14

STI broke 2700 resistance (long outstanding) and DOW broke 10,000 !
Most stocks are near/ break resistance at the moment.
Options are :
1. Wait for resistance turn support
2. Lookout for good counters trading at support
3. Trade breakout from resistance with high volume

USD toasted - email from Robert Kiyosaki

Received this email recently found to be interesting...


"The dollar has long been the reserve currency of the world, giving the US tremendous power. But that power was built on the world's fragile faith in our currency. Stress cracks are beginning to show in the world's willingness to accept the dollar.

"I know Iran's President is not the most popular man in the world, or in his country. I know he is scrambling to retain power in Iran. And I know he is switching from the dollar to the euro in order to throw mud in our face. Nonetheless, this change is right in line with what is predicted in Conspiracy of the Rich. The dollar is losing its power as the reserve currency of the world. In other words, the American empire of debt is coming to an end. "

-----
Don't know what will be the impact if USD continue to slide downwards...


In short term US stocks appear to be cheaper! Singapore probably will not let the SGD continue to strengthen which could offset trade balance.

If the confident on the world dominant currency is shaken, investors are pulling out..hopefully to Asia and EM.. may be we should be focusing on where the $$$ flows.

STI/Hang Seng sideways

STI and Hang Seng both going sideways!

STI - Shooting star appeared Oct 14. Weekly chart, MACD and others indicators showing bearish crossover.

Hang Seng -  Bearish harami candle appeared. If combine the last 4 days, it looks like Doiji. Potentially bearish reversal to follow.

Attended the Chartnexus traders' club meeting Oct 12. Half the class expect the STI to breaks 2700 shortly and half like me feeling bearish..News reported in papers expecting 3Q to be better, GDP is up...etc.

In this confusing state, decided to keep away...take the profit, close the position and enter when the situation become clearer... don't know when..!

STI/Hang Seng

Resistance / Support : 2700 - 2600
Trend : Sideways and bearish
Weekly MACD bearish crossover approaching. Short term rally could be testing 2700 again.  Volume declining suspect the recent rally may not be subtainable.

Resistance/ Support : 21960 - 19940
Trend : Uptrend but beaish
Weeky MACD bearish crossover Less than STI. MACD Bearis divergence and momenum dropping.

Commodity Study

Noble ( 2.60– 2.30) BUY AT DEEP (TOP PRIORITY)
Weekly – Strong uptrend still intact.
Daily – Recently form higher low, rebound at 20d MA. Bollinger Squeeze seems approaching. Stochastic bullish crossover. 4R1G appeared.

Plan: Wait for next retrace ! This stock tendency to retrace when break peak!!!

 
 
 
 

 
 
 

 
Wilmar (7.00 – 6.00 / 5.78)
Weekly - Uptrend, bearish. MACD crossover.
Daily – Broke 20d, 50d MA. If lower high appears, indicating downtrend. MACD signal is bearish. . MACD 4R1G rebounds from support ( Technical rebound ?) Momentum moving down to 0. Strong support at 6.00 and if breaks, secondary support at 5.78 confluence with 23.6% Fibo .

Plan: Wait for 6.00 level to enter 1st batch and if breaks, wait for 5.78 to re-enter.

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Golden Agri ( 0.45/ 0.50 – 0.385 / 0.285)
Weekly - Uptrend but bearish. If breaks 20w MA, potentially sideways. Double formation can be threatening if happen! MACD sideways showing bearish divergence.
Daily - Rebounds at 0.385. 20d MA is heading south! If forming lower high will be confirming down trending.

Plan - HOLD unless breaks 0.38


 
 

 
 
 

 

StraitsAsia ( 2.34 – 2.00 / 1.91)
Weekly - Uptrend, bearish. Attempted to break support once. (1.91) MACD bearish crossover! Supported by 20w MA. Momentum crossed 0.
Daily – Bearish. Broke 20d/50d MA, supported by 100d MA. 2.00 support confluence with 38.2% Fibo is strong. H&S supported at this level is formed!

Plan – Short if breaks 1.91 with volume!

Although stocks are rally past few days, the weekly charts are bearish. MACD started showing bearish crossover. STI, Hang Seng potentially going sideways or downward pressure. Should this happen, watchout for 38.2% Fibo support level. This phenomenon seems to repeat 1997 crashes.

Citi

Sideways
Waiting to break 4.84 resistance to consider possible trend reversal. MACD is sideways. Momentum weakening and more downward pressure.
Plan :
Wait for price to retrace at support 4.08 to determine next action.

Dow

Medium Term: Support 9435, 9103 Resistance 9924

• Uptrend , price movement at Bollinger upper band., 2 weeks pullback at 9435 support is confluence with 38.2% Fibo and suspect to rebound next week.
• RSI, Stochastic , ADX all moving sideways since end Jul therefore suspect the price movement to remain in range bound unless MACD bearish crossover .

Short Term: Support 9435, 9273 Resistance 9647

• 9435 support is confluence with 38.2 Fibo and 50d MA. A “hammer” suspected the price to rebound.
• MACD bearing, heading south and stochastic heading 20% is bearing. Head and Shoulder suspect potential trend reversal !

PLAN:

Long

• For short term gain, when one or more of the following appears:

          MACD histogram 4R1G
          Stochastic bullish crossover
          MACD bullish crossover.

Short

• When price movement breaks 9256

Citi

Medium term : Support 4.08 , Resistance 5.44

• Weekly chart, MACD, stochastic, RSI rising. Stochastic approaching crossover .Doiji appeared, suggested to watchout for retrace to support at 4.08 in short term.

Short term:

• Last Friday broke 20d MA , potentially heading for support at 4.08
• MACD bearish, signal line dropping approaching center line.
• RSI dropping. Stochastic bearish crossover just started.

PLAN:

While Medium term is bullish, short term moving south, suggested to long when the price hit support at 4.08. Priofit target 5.4

STI

Weekly

• Sideway, range bound bet’n 2530 – 2700.
• MACD bearish, MACD histogram below ctr. RSI heading south to 30%.
• Last week candle just broke 100W MA is showing weakness

Daily

• Long term- Still uptrend.
• Short term- Bearish, just broke 20 and 50 D MA heading for 2530 support.

Resistance

• Strong resistance at 2700 confluence with 50% Fibo. Tested 4 times w/o breaking!

Support

• 2530, 2436. Watchout for trend reveral when break 2530 support.

Strategy

• If rebound short term - Wait for breaking resistance with high volume to long
• If continue to pullback - 1) Watchout for retrace at 2530 support to long 2) Watchout for breaking 2530 support to start shorting.