This coming week, we are looking at some property stocks to short. It has ran up quite a bit. So once the set up is right we’ll execute some shorts on it. Stay tune for what counters we’re looking at. =)
Yours
Humbly
Jumbo posted a good set of results on friday after the closing bell
http://www.businesstimes.com.sg/companies-markets/jumbo-q3-fy16-bottom-line-doubles-to-s34-million
So whats next? Jumbo closed at 0.67 on friday reaching a high of 0.68. We continue to see upwards momentum due to strong earnings but would not be loading big as stock have ran up prior to results so some of it might be factored in already. We’ll stick to our plan as previously posted.
Have a blessed trading week ahead
Yours
Humbly
We saw a nice rebound on sembcorp marine today as it reached its double bottom at 1.295. Hopefully some of that rebound spill over to sembcorp industry. Its currently being resisted at 2.75 if that breaks we might see it head towards towards 2.85. Our stop loss would be 2.65. It is currently on CD and will xd on 16 aug with 4 cents dividend
Yours
Humbly
Yummy chili crabs =) We were sharing this stock with our clients on 5th aug at 0.63 to take a look and again on 8th aug hopefully some pocket money to go eat some crabs.
So where to next? We’re thinking that the 0.675 might break with some volume coming in. If that breaks we might see next upside to 0.72 cents so there might still be some meat left but of course we’re not expecting a straight line up. If you entry now do take note of your lot size do reduce it as this stock has ran quite abit. Stop loss would be 0.65 if its tight or 0.625.
Yours
Humbly
STI came down to our target of 2833 and overshoot a little more to 2813. We shall now use that as our support. Currently its being resisted at the horizontal resistance of 2882. If that breaks we might see it start attacking that uptrend line and if it manage to regain its footing there then we might see it retest the high of 2960 again. Lets keep a close eye on it as S&P made new high so we want to move accordingly
Yours
Humbly
YZJ broke down a day after it’s poor results. It broke its 0.865 horizontal support and started to slam down all the way to 0.815 an early message was sent out to our clients to take note of it. So where to now?
We’ll have to look back to a 5 years time frame and we would see support at 0.8 and then 0.77. Its a weak stock to us .
Hope you all had a good National Day celebration. See you all back tomorrow
Yours
Humbly
Blackberry, once the darling of the Techworld and Wall Street, has been in a long term downtrend for the past few years.
From the chart, we can see since 2013 , it attempted to break out of the downtrend line twice only to drop below into the downtrend line again. However, we also note that Blackberry has formed a series of higher low since 2013, and it recently it broke out of the downtrend line again for the 3rd time since 2013. But Volume is not high for this recent breakout so it would be prudent to observe more to validate the breakout validity.
We shall observe its price action and if it pullback and stay above the downtrend line, it could be a encouraging sign, signalling a potential change of trend in blackberry. If its rally can be sustainable, the first resistance could be 8.26 follow by 8.71 .
Meanwhile we shall observe its price action first and shall share again if there are any interesting entry setups for it .
Yours
Humbly
STI came very close to our target of 2964 and started to retrace which we warned off in our blog. What will happen next? We drew some lines and will share more of our humble view of the market this coming thursday night with our lovely clients =) Hope to see you there.
Yours
Humbly
City dev did have a pull back ever since we mentioned it on 26 july it broke its horizontal support and 8.76 and closed at 8.51 a good 25 cents profit if you had shorted. Over here at the humble stock we advocate taking profit along the way and not try to aim for the highest and lowest and take profit. Taking profit along the way helps in your mental strength or phycology too. In case anything goes wrong at least u got some profit. So we would take some profit at this level as its at its horizontal support of 8.51 if that breaks hopefully we’ll see 8.35
Capitaland, also had some movement up to 3.21 since we blogged on 20 july tried to break out of its resistancce of 3.20 but failed and closed below its resistance. We’re now watching to see if the 3.16 support holds if not it might come down to the 200ma. Or will it attempt to break if resistance again.
Yours
Humbly
Dow Jones Index is currently on the middle channel of the uptrend line (First chart) , which could act as the resistance as it recently tried to break above this channel line but start to pullback again ( Second Chart ) , if price do not rally and stay above this uptrend line channel soon, it could signal a correction for the Dow Jones after the recent strong rally , with support at 18190 follow by 17124 ( in the event of a heavy pullback )
Yours
Humbly
