Oil related and shipping counters seem to be moving up these days. We have been looking at YZJ and think that this counter might have more upside potential.
The 200 days exponential moving average and our downtrend line that we drew seems to be quite close at 0.86. We’re hoping for it to break and move higher to .088 then to 0.92.
We can put a stop loss at 0.82 .
Yours
Humbly
Following up from our previous post of CAO (http://singaporehumblestock.com/2017/01/china-aviation-flying-off/) which we posted just last thursday. The stock has moved up to a high of 1.49 in just two days but of course we believe in being slow and steady and not quick riches.
The next possible targets could be that horizontal resistance at 1.515 and then if that breaks above then to test the previous high of 1.575. Let’s see how it goes. And remember to protect your profits along the way too.
Yours
Humbly
Does China aviation looks like its going to fly?? Now now, let’s not get too excited. Let’s look at the chart and see and plan for our trade.
Chain Aviation oil or CAO for short seen an increased in volume today after a few week of low volume. It is also currently testing the downtrend line which we drew for the third time. We might consider entering once it breaks above 1.44 with a stop loss of either 1.43 (very tight stop loss) or 1.385 or even when it breaks below the uptrend line of around 1.37. Of course then our position sizing would be different too. So remember to plan for your trade like how we do so that you won’t get a rude shock at the end of the day.
Cliche as it might sound, if you fail to plan you plan to fail.
Yours
Humbly
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Yours
Humbly
Alliance Mineral today broke above the 0.096 horizontal resistance and close with a bullish price action, above the 50 day moving average which is represented by the green line with today volume highest since mid December .
If the bullish momentum can continue , these signals may bring Alliance Mineral to the next possible upside resistance region between 0.103 -0.106.
Stop Loss may be placed at 0.092 ( tighter stop loss ) or 0.089 ( wider stop loss)
Yours
Humbly
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
