OCBC had another good run on chinese new year eve as it hit our next target of 12.80 from our previous post.
Ever since it was on our Top5 shopping list just a week back, it has gained close to 5% on the upside. A very nice upswing in our view.
We continue to apply prudent risk management in such markets and will be alert to any drastic swings in the market.
For now, our might possible swing target might be $13.29.
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OCBC had a nice rebound today emerging as the top performing index component stock up over 2% . Just see below. =)
Well, it was on our TOP5 stocks shopping list catching the rebound at $12.25 and sending it to our exclusive clients over the weekend as we mentioned in our previous post. The recent pull back has presented a good opportunity to look for quality stocks which we mentioned previously too. Are you prepared? Have you gotten your shopping list ready?
OCBC having hit our first target of $12.61 had some retracement and closed below it. Its results will be out tomorrow before market opens. A positive results might see OCBC moving up to our next target of 12.80 and eventually back to $13.15.
A results below consensus could see it pullback to $11.80. We’re keeping our fingers crossed for a positive one.
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Straits Times Index(STI) had a brutal week and some might have gotten hurt through this week. It’s no surprise that one would be giving up hope at this juncture as the wide swings might have caused confusion and despair.
Well, we always treat this as a learning point, remember what we seen and commit it to memory. That is why we also like to always remind ourselves about stop loss and trade size. These are key to trading success.
It is also important to have a community that can spur and encourage you to carry on and press forward. Two are better than one, If either of them falls down,one can help the other up. Are you in a community that picks you up when you fall? Help look out for your blind spots? If you desire to be in such a community. We been updating regularly since the Dow fell and not letting our clients feel alone .
Read on to know more as we reveal more towards the end. But first, let’s look at our STI.
The Straits Times Index (STI) has come close to our 200ma (3300). It also coincides with our uptrend line so we might find some support around there. If it doesn’t hold then we might even see the next support of around 3250 being hit. Of course we don’t wish for such a scenario.
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Straits Times Index (STI) had a wild ride on tuesday as Dow Jones took another dive of over 1100 points on monday night.
The Dow had an amazing ride from futures being down of 900 points to finally managing to close up of 500 points. In all, it went through over a 1000 points swing.
So is it a crash or correction? And are you prepared for either scenario??
Although our Straits Times Index (STI) had a late day recovery due to the volatility we would prefer to take position more intraday positions or very short term positions and wait for the market to be more stable.
The wide swings can wipe even seasoned traders out so its better to preserve our capital and not rush into things yet.
We would take this opportunity to look for good blue chips that have been sold down. Its the great stock sale!
Our next level of support of the Straits Times Index could be around 3324 or the 200ma.
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As Dow Jones took a nosedive of 666 points on friday night we would expect some negative sentiments to follow through to Asia side.
As such we have come up with a few charts and drawn some support levels that might hold. We know that traders might panic as the sell down on friday night was about 2.54% which could trigger some margin calls too.
Remember to remain calm and as usual and as naggy as we might sound always have your stop loss in place , that way you won’t be taken by surprise losses. Our protective stops are always in place too.
So looking at our Straits Times Index (STI) it has actually broken down from our short term uptrend support line and we might see a pullback to 3472 then 3440 area. We find a healthy pullback is good as it allows investors to come back to the market. So be patient and wait for the dusk to settle before considering long positions.
Cosco after having a nice uptrend and capturing it since 0.425 might also start seeing a pullback. It has also broken down from our uptrend support line and could see a pullback to 0.46 first.
YZJ Shipbldg has been trying to break back into its uptrend support line but doesn’t seem to be able to. Since its Stellar performance from 1.51 a pull back would be deemed healthy for us. The support at 1.57 might not hold and we could see 1.50 as our first support and then 1.48 we’ll see how it goes from there.
Sembcorp had a very good run on Friday but negative sentiments could flow through and some pullback to 3.48 then to 3.43 could be on the cards.
Chip Eng Seng had a nice run up since 0.955 when we mentioned it and hitting a high of 1.07. Since then it can’t seem to move higher and it could test the first uptrend support which might not hold so we’ll be using the 50 days moving average as our good support.
We hope all have your trade plans in place. Have a blessed week ahead.
Jumbo as mentioned just last Friday had another move up today reaching our resistance of 0.645 before coming to a stop.
If Jumbo manages to cross the resistance of 0.645 and staying above it then we might see the next target of 0.665.
Our protective stops are in place!
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Jumbo broke out of our long term downtrend resistance line. A nice healthy volume is coming in too.
Staying above the downtrend line of 0.62 might see our next upside target at 0.645 then 0.665. It is currently also above the 200ma which is a good sign to us..
Our Support would be at 0.59 horizontal support where we first spotted our entry. Which is now the resistance turn support.
Could Jumbo be running before Chinese New Year? More festive dining could mean better profits in the next quarter.
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St Engineering a STI component stock, has seen some healthy volume coming in during the week .It broke out of our horizontal resistance of 3.37 and continued its march up towards our targets.
It has also broken above our 3.45 horizontal resistance and staying above that might see next few possible targets of 3.50 then 3.55.
The 20 has cut above the 50ma which is a good sign to us but of course protective stops are always in place.
St Engineering has just bagged some contracts recently and more can be read HERE.
Another interesting fact, do take a look at the past few years. See what happens during the first quarter of the last few years. =). Lets hope history repeats itself this year.
We would use Poems CFD to swing this trade!
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Once again, NO HINDSIGHT as Olam rebound from our previous post . A nice upside of 10% since our post!
It has hit our resistance of 2.28 and started retracing. Pullbacks might be a good chance to consider entry with of course our uptrend line as the support.
Our next possible upside target might be 2.38. Will update when the chance comes along.
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It is currently above the 200ma and above the downtrend line too. =) Might have more upside if it can stay above and our targets are drawn in the chart. One can put in the 20 and 50ma and see what that brings.
Support is around 0.149 or 0.147. Will probably want to swing this trade.
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Yours
Humbly
Kelwin&Roy
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![St Engineering – [ Engineering An Upside? ]](http://singaporehumblestock.com/wp-content/uploads/2018/01/St-eng.png){kind=link}