Mermaid had a nice rally but there seems to be some profit taking coming in and it broke the short term uptrend line. It got slammed down at closing to close at 0.15.
Our shorting entry would be below the horizontal support of 0.152 and the downside target might be at 0.141. The 20 days moving average might act as a first level of support.
Our stop loss can be 0.158 or 0.161. We would use poems CFD to short and not do a naked short.
Yours
Humbly
Banks have been having a good rally so far and a healthy correction would be good before it can move higher. OCBC has fallen out of its short term uptrend line and it tried to recover to the uptrend line but failed to do so there was also an increased volume yesterday. IF it can’t break above the uptrend line we might see it head down towards its first support of 9.07 then $9 .
Yours
Humbly
Looking at SATS and seeing if it can stay above the downtrend line we drew.Its the third time its testing this line. So if it manage to successfully stay above we could see it retest $5.02 then the previous high at about $5.20. We can continue to watch it till mid day and see how it performs.
Yours
Humbly
Following up from our previous post of sembcorp marine , it did attempt to break the downtrend line of 1.48 and even its 200 days moving average but failed to stay above and had some retracement. But we’re still looking at it as on the weekly chart as it has broken above the downtrend line on the weekly chart.
Also, Opec and non opec agree on first global oil pact since 2001. (http://www.wsj.com/articles/opec-russia-upbeat-about-securing-oil-output-deal-as-meeting-begins-1481362580). This could spur oil prices up and we might see sembcorp marine moving up too. Our entry might be 1.485 and a stop loss of 1.42. Our first target 1.515 then 1.59
Yours
Humbly
Its been awhile since YZJ went above the 200ma and today it managed to stay above it. If it can stay above it for the 2-3 days we could be expecting to retest the 0.92 level. So far YZJ has been fighting to stay within that short term uptrend line which we drew. If that breaks then it could sign a reversal.
Yours
Humbly
OUE had an increase in volume today and closing below its resistance of 1.815. A break above this resistance could see it head towards 1.88. We’re watching this stock closely to see if it can break out. A Stop loss could be at 1.79 if the breakout fails. We find that the risk reward ratio for this counter is good. More about OUE
http://oue.com.sg/
Yours
Humbly
Noble came down to our target our 0.16 (http://singaporehumblestock.com/2016/11/noble-5/) and looks supported and there was an increase in volume today too.
We might see if move higher to 0.172 then 0.177. Our stop loss would be 0.159 where we might even turn short if that breaks
Yours
Humbly
SIA engine might be worth taking a look. It found support at 3.36 and currently at the 3,43 resistance which is the horizontal resistance and also the 20ma. If the resistance break we might see it move higher to 3.49 then 3.53. Our stop loss would be 3.35
Yours
Humbly
Following up from our previous post (http://singaporehumblestock.com/2016/11/starhub/) we saw the climatic selling volume came in and was looking for an entry at 2.82. Starhub has risen to 2.95 our second target and now we could we looking at $3 or maybe even $3.05 to come. Hope you all managed to learn something from this.
Yours
Humbly
Want to know more about Shenzhen – Hong Kong Connect and how you can gain exposure to it in order to have a diversified.
Has the China market bottomed this round and how will the shenzhen connect help the china market?
The Shenzhen Stock market has a market cap of around US$3.9 trillion in 2016 and the 3rd largest in Asia and 7th largest in the world.
It has the largest in China in terms of trading volume and we’re offering 600 over counters for our investors.
Do email us at humblestock@gmail.com if you want to know more about the Shenzhen- Hong Kong connect and what stock we’re looking at to benefit from this connect.
Yours
Humbly
