Just a quick update, we share noble on 8th march(just scroll down) with the same chart, its currently down to 0.41 from that resistance line we drew at 0.475. There is a horizontal support at 0.41 and if that breaks we might finally see it move towards our target of 0.385. Keep a close eye.
And oh yes, remember we don’t believe in quick riches, so what we share here are not stocks that we expect to move immediately in the direction we would like. It takes time =) Slow and steady .
Look at yuuzoo too, we shared it on 3rd march and its been close to 2 weeks and today we see it moving close to our target of 0.18
Its late into the night and thought of updating the blog, of course we don’t encourage people to be working so late into the night. Remember work life balance =) so we’ll try not to update this late in future. Haha
Ezra, an oil related counter had recently seen a strong rebound due to the rebound in oil. It had met with the horizontal resistance at 0.122, it tried to break it a few times but failed to stay above. With that we might either see ezra hovering around 0.109-0.122 area before standing another move.
We’re watching the horizontal support at 0.109 closely and if that breaks we might consider shorting with a stop loss at 0.111 and hopefully a trager of 0.095.
With that we decided to cover the charts for our three local telcos.
First starting with M1
Of the three telcos we found this the most interesting. M1, instead of closing down today it actually closed above its opening price.WOW, that shows us some strength when its suppose to be down due to all the price wars which will potentially eat into the telco’s profit. From chart wise, M1 seems to suggest that there might be further upside, with it breaking its downtrend line but does face some resistance at 2.64 if it clears that we might see a nice upside to 2.74 first then 2.87 our cut loss will be at 2.50.
Next up, Starhub
It close down as expected and as u can see is ranging and sitting on its horizontal support of 3.35. If it goes below that we might see more downside to even 3.25 area. We are looking at more downside for Starhub
Last but not Least, Singtel
We can see that currently its touching its downtrend line and coming down and we do foresee more downside for Singtel to the horizontal support of 3.70 first then we will plan again.
Its mid week and market started to profit take from the strong run up last week.
Noble group has hit the horizontal resistance of 0.475 and failed to break through it. It also coincide with some trendlines that we drew. If we were to short , we would short at current price and be prepared to cut loss at 0.48. Its a nice risk reward ratio if we’re aiming to about 0.39 cents as a support. =)
We would use CFDs to short and not do a naked short.
It should be a friday morning by the time you all read this and this stock yuuzoo caught our attention. We drew a downtrend line and see that its at quite a major resistance for now. Failure to cross it might see it hover and come down to 0.18 before staging another attempt to break the downtrend line. The closing candle today looks ugly as it open, moved higher and came back down to near to its opening price after reaching near its resistance. this to us is not a good sign.
If we were to short it we would place a stop loss at the downtrend line which is about 0.20. Risk reward looks ok for us.
The weekend is just a day away. Hope you guys had a great week and remember every lesson learnt is not wasted and has a value in it. =)