DBS, slammed down today due to exposure of swiber (http://www.straitstimes.com/business/dbs-exposure-to-swiber-group-at-700-million-expects-to-recover-half)
This might just be the start has it might have other exposure to the O&G sector and debts that will be hard to recover. We’re using the 200ma as the first support at 15.67 and if that breaks then eventual target to 15. Entry to short at 15.8 with a stop loss at 16 or 16.15.
OCBC July 2016
OCBC currently at its horizontal suppport of 8.71 it hit there and rebound. But if this breaks then we might see more downside towards its 200ma at 8.63 then 8.55. Our short entry would be 8.7 with a stop loss at 8.90. Of course we don’t naked short, we use our CFD DMA to short. The risk reward for now could be 1-1
First Res had a surge today despite market being down, It broke its mid term downtrend line today and moved up quite nicely. It came as a bit fast so if we’re unable to catch this first up wave then lets wait for either a retracement or when it breaks 1.64 and play a break out trade. Our eventual target would hopefully be 1.785
Wilmar July 2016
Our dear wilmar played punk with us, it went below 3.05 but recovered at the end of the day. Currently very near the resistance of 3.12 and our stop loss but if you are more generous then perhaps a stop loss of 3.18 could be possible too. Wilmar on the back on a possible bad results is due to report on 11 Aug so we are hoping that it should going back to 3.30 level. If it does we might take another short at it =)
Sembcorp ever since our previous post on 24th jul has been coming down and finally close at 2.85 today. We’re hoping it test then 2.8 support then head to 2.6. Still looking bearish for us.
Sembcorp Marine Jul 2016
Sembmar ( SMM for short) since last friday as it broke the 150 support started to come off and down to 1.435 today. It reported its result this evening (http://www.sembmarine.com/scm2016/wp-content/uploads/2016/07/SCM2Q2016-PressRelease-28July2016-1.pdf) . Results wasn’t fantastic Q2 profits down 90% from the same period a year ago. We’re looking at 1.40 then 1.30 eventually.
Keppel Corp also down from when we posted, though alittle late but better late than never right? On track for 5.20 target
As posted on on monday night, ausgroup broke its horizontal support of 56 and came down to 47 the level that we were watching and rebound after that. (Congrats to those who shorted )
The market took a hit after swiber declared that its winding up its operation. A hit to the O&G sector. vallianz took a hit too as swiber has some stake in it. This could just be the start.
We’ll update more tonight on the banks as banks would have some exposure to this sector.
City Dev had a nice run up recently and hit its major resistance of $9.It is currently sitting on its horizontal support of 8.76 but if that breaks then we might start to see further downside and profit taking to an eventual target of about 8.35. For a tight stop loss it can be at 8.90 if not at 9.02.
Wilmar, one of the weaker stock for today, the banks rebounded and some of the blue chips closed quite well . It didn’t manage to rally much in the last few days as we would like(so that we can short at a higher price) and is currently sitting on the 3.05 horizontal support. With that if 3.05 breaks we might see if head down to test 2.96 as the previous low. Our stop loss would be at 3.13.
AusGroup operates in the LNG, oil & gas, minerals & metals, petrochemical and process sectors. We have established relationships with our clients in these sectors to build, maintain and upgrade some of the region’s most challenging development projects. ( Taken from their website) is related to the oil&gas sector which is currently weak now. It broke its support of 0.056 and closed at 0.055 today. With that we might see it test the next support at 0.047 if oil continues to be weak. Short entry could be at current price at 0.055 with stop loss at 0.06. This is a micro penny stock which will raise a few concern for us if we’re shorting it.
It may be suspended. In event it does you might lose your full amount that you are shorting
Micro pennies can have very erratic movement too. Its depth might be thin so if you’re shorting in big quantity you might have problem covering.
In conclusion, we wouldn’t short very huge for this and would go small only just to ride it down and would be willing to lose full capital if this stock were to suspend.
On the other hand, looking at the blue chips (more stable) capitaland which we pointed out last week had a nice move towards our resistance level of 3.19 and closed at 3.18. Congrats to those who made in this. Most property stock today had some run up which would be a little strange given current market condition. We would continue to be bullish as long as capitaland stays above the 200ma or if it can stay above the resistance of 3.19 which might take it to 3.25 first.
Have a great week ahead. 4 more days to the weekend =)
Since July 2015, Apple has been on a well define downtrend channel , touching the downtrend line upper channel resistance for the next 3 times, but came down each time it rally to the downtrend line upper channel resistance ( in mid April 2016, it attempted to break above the downtrend line upper channel resistance but fail to stay above it and came down again ). If Apple continues to rise, the downtrend line upper channel may be where its next rally target level is and act as a resistance again around the price region of $102.59.
If it reach the downtrend line upper channel resistance and start to weaken again , it may signal price action weakness in the stock , and a short position may be initiated with a stop loss above $104 . It’s upcoming results will out on 26 July.
Will the stock continue to be the apple of investors’ eyes or start to show weakness soon ? Lets stay tune .
24th July, 2016, 1:24 PMSembcorp Industry July 2016
Sembcorp trading in a range hit the resistance and it might come down to test the 2.8 support and if it remains weak we might eventually show 2.6 in the coming weeks. Stop loss will be above the resistance of $3
STI came very close to our resistance of 2964 and it retraced from there. But friday’s closing was strong on the upside so lets watch to see if market will break that resistance and maybe test 3000. We could still plant some shorts on weaker stocks which does not move up with the index.
Keppel Corp posted 2Q 2016 Net Profit down 48% to S$205 million, compared to S$397 million for 2Q 2015 just last week which sent the stock down. Some support seen at 5.42 area and if that doesn’t hold then it come down to 5.35 then 5.20. We are looking at more downside for keppel corp
Yours
Humbly
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