Noble group, not having a good week, it tried to rally recently but had some problem sustaining its rally. Currently its at its support of 0.131, if that doesn’t hold then we might see it test 0.122 then 0.112.
Stop loss will be one pip above the resistance.
As you all know we like to KISS ( keep it short and simple) . Capitaland is currently sitting on its 200ma and also on its uptrend line. So if you’re betting on Fed to keep the rates unchanged then you might try to go long around the support at around 3.07-3.09 area with a stop loss of 3.05 ( keeping it tight)
Or if you think that there will be a hike which might hurt property developers then wait for it to break the 200ma and the uptrend line before initiating a short position. With entry at 3.06 and stop loss at 3.13
Its 3 more working days to the start of the upcoming fed meeting on 20th sep and we have seen the STI following our plan and dropping to the 200ma which is also the uptrend line. Hope you guys enjoyed the ride down together with DBS and SGX. =)
Whats next? As the meeting looms, we would prefer to go light and adopt a wait and see approach. Remember even after the meeting it doesn’t mean that markets will be stable too. If there is no hike and market rally would that be good? Does the underlying current means that the US economy is not that good? Is that something to cheer about??
If there is a hike would it be good for the market? It might have a short term pullback then start to move up?
Lets not get ahead of ourselves. We would prefer to see the chart and look for clues in it.
If STI were to break that uptrend line we might see it head towards 2722 area. We won’t be going too heavy and market is still in an overall sideway trend. So a rebound could be in place after that.
DBS, what will the impending rate hike do to the price? Well, on theory an increase in interest rates would see an increase in interest yield on their loans but business might find it more costly to borrow. Only question is much how then will it hurt. It’s going to be a long drawn debate but lets see the chart for clues.
DBS currently supported by the 200ma and resisted by the 50ma . If it closes below the 200ma we could see it head down to test that uptrend line of about $15 and if it stays above the 50ma then it might test the uptrend line of $15.55. With the current sentiments we might see it test $15.
SGX will go XD on 28 sept 2016 so do take note of that.
It is currently sitting on the uptrend line but looks like it might be breaking down from it. SGX can be a whippy stock so do take note ya. If it breaks the uptrend line more downside could be seen to the 200ma at 7.51 then to the horizontal support of 7.44 . Please take note of your stop loss too. A break above 7.75 might signal more upside and that’s where a stop loss can be placed.
It’s been awhile since we updated the blog, sorry for radio silence and thanks for all your concern and checking in. We’re well just trying to get up to speed with all these change of blog address. We’re not the best at this so it took us awhile.
Well, we all know that over the weekend dow dropped close to 400 points!! What a shocker eh. Now what will happen to our STI, we might be expecting some downside movement to come in due to the drop and foresee some downside to 2844 then eventually that uptrend line which also sits nicely with the 200ma.
If there is any upside, we might see it to 2900, currently we feel that STI has more downside pressure.
Cityneon has broken down from its uptrend line and now sitting precariously on its 20ma and its horizontal support line. If these support don’t hold then we might see it head down to its 50ma. A pullback is healthy for the stock.