Noble, failed to hold at the 0.181 horizontal support, it tried to rally this morning but got sold down in the late afternoon. With that we’ll look to short if it opens below 0.181 with a stop loss at 0.188. The next support we see is at 0.169
Yoma, also similar to city dev in terms of technicals is hovering near its 200ma. In fact it broke its 200ma today but managed to just close above. Yoma has been consolidating for a few months and it broke down which might not be a good thing. Furthermore an increased in vol was spotted today. We’re consider a short once it breaks and stay below the 200ma. Cut loss can be a at 0.58. First support at 50 cents then 45 cents.
Post on sunday just two days back and OCBC broke out and ran up. It moved up to a high of 8.78 can closed back down to the recent resistance of 8.73. We have drawn the potential resistance/targets for ocbc.Lets hope it can move up to 8.88 soon . =)
City Dev to us can be a tricky stock as there are times when it moves up and down with many fake breakout and breakdown.
We’re using the 200ma as a guide this time as we did for mapletree Log(http://singaporehumblestock.com/2016/11/mapletree-log-2/) by the way it came down more today =) just shy of 0.05 of our target of 97 cents.
For city dev, its been above the 200ma for the last 7 months. So this has to hold and if it doesn’t then long term players might even let go of their holdings which could accelerate the downwards movement . 200ma stands at $8.35 we’ll only initiate a short if it breaks down convincingly. Entry can be 8.34 with a stop loss of 8.41. We’re putting a tight stop loss for this. But if you have a bigger tolerant then your stop loss could be at 8.69
Capitaland might see further downside to 2.95 area before we see some rebound depending on the market
From our previous post, thaibev has made a slow and steady drop to close at 0.915 from 0.95. Our target of 90 cents might be coming soon but we might see it even hit 0.87 which is the 200ma and also that lower band of the trendline that we drew. Do take note that their results will be out this coming friday after market ya.
but it gave a set of not so good results shortly after and that sent its price diving down back to $1.50 which is at our horizontal support and also the 50ma. There was an increase in the volume on friday with the sell down. So if the support of 1.50 doesn’t hold then we might see singpost heading down to $1.45 first then maybe even $1.40. But if $1.50 holds then we could see a rebound in sight. We are more downside bias
Since our previous post Mapletree Log has been sliding down and is currently below its 200ma. The support of 1.01 seems to be holding but we’ll be watching to see if it can break below. Many reits and trust are getting hit in the recent days, so lets see it this will continue its slide down to 97 cents.
Before we start sheng shiong had a fall to $1 before some short covering came it. $1 was a bonus to us. So hopefully your shorts were profitable.
Next, after the crazy week with trump winning market seems to have gone up instead of down which observers were hoping for. Our local banks seems to have a strong rebound with DBS rebounding from $15 to $16! WOW!
We’re watching OCBC now and looking to see if it can break that downtrend line convincingly at about 8.65. It is currently being resisted by the 50ma at 8.59. It tried to break on friday but retraced after that. So this will be in our watchlist. We’ll consider entering when it breaks above the line and have a stop loss at 8.58 ot 8.50 .