Sheng Shiong caught our attention. A defensive stock but it came down together with the overall market too. Furthermore it broke that uptrend line which we drew and it came down with an increase volume. The current support is at 50 ma which is at 1.065. If that breaks we might see further downside to 1.025 the horizontal support.
Lets see how it plays out the next few days.
Yours
Humbly
Thaibev had a sell down today with an increased in volume. From the chart we can see that its being resisted by the 50 days moving average (50ma) the last few days and finally sold down. ย Current support at 0.95 if that breaks we might see if move towards 0.92 in the next few days. and maybe even 0.90 eventually.
We use CFD to short and not naked short with a stop loss at 0.98
Yours
Humbly
Keppel Corp closed strongly today and even managed to close above its 50ma. Keeping a close watch on it to see if it can move up to the 200ma.
Together with Kepcorp, sembcorp marine also closed up strongly to its horizontal resistance of 1.35. Take note of it too.
Yours
Humbly
GLP hasn’t move much recently , it is currently below the 50 and 200ma which is bearish in technical terms.
It is currently sitting on its horizontal support of 1.805 and there was an increase in its volume today.
For now GLP seems like its in a range. Watching to see if that horizontal line breaks which might take it down to 1.75 level.
Yours
Humbly
Most of the mapletree companies suffered some selling today. Mapletree industry and others had some downside.
Currently mapletree Log is at our trendline support of 1.05 and its below the 50ma too. We might see it come down to test the 200ma if the 1.05 support doesn’t hold.
Yours
Humbly
One of the hottest stock in the market CNMC had a gap down on wednesday as gold reached a 3 months low. That gap down might have scare traders out as people were rushing for the exit.
From the chart, we can see that it has broken the uptrend line after the gap down and is now currently below the 50ma too. We’re not optimistic on CNMC for now and might see a pullback to 0.50 the horizontal support. From there we shall see where gold price is and if 50 cents holds too.
Yours
Humbly
Energy, commodities stocks are running these days. Noble, alliance mineral all had a good run.
We’re turning our eyes on cosco. Been alittle quiet these days. There was an increase in volume today and its still not moving much. Could there be some accumulation going on? Well, we’re using the 50ma as the resistance at 0.27. If that breaks and it can break out of 0.275 we might see more upside after. Lets watch and see where this goes to.
Yours
Humbly
STI, currently being resisted by the downtrend line and being supported by the 50ma. What we would usually do is to short and the resistance or short when it breaks down a support. We would cover if it stays above the downtrend line.
Yours
Humbly
