We’ve been asked by many on our views on the straits times index or STI for short and thought we’ll just do a short sharing over here.
From our chart the immediate support of STI would be around 3200. Many eyes are on it and the moment it stays below that, it might attract shortist to come in.
STI has been ranging between 3258 region and 3200 for the last 2 months with no real direction. So if a break were to occur this might set the tone for a pullback. The 20 days MA is sloping down and have cut the 50ma too which in a technical term means the direction might be down. This hasn’t occurred since late last year. Dow, Nasdaq all have been making new high but our Straits Times Index hasn’t seem to make any new high.
With each rebound STI can’t seem to break out too. So lets watch to see which levels play out. We got our next few levels of support drawn. And would be ready in the case if STI starts to fall. The 200ma would be our final support. The banks which have largely been supporting the STI also seems to be pulling back.
We’ll be using Poems CFD and did you know that poems is the only stockbroker in Singapore that offers the Straits Times Index for trading? =)
If you want to learn more about Poems CFD and how you can be trading the STI both long and short. Just click HERE as we’ll be having a seminar next Wednesday show casing our CFD and some of our strategies. Hope to see you there.
Food Empire was a stock that we were analyzing on 31st May and mentioning that some down side were would good. It broke below our horizontal support of 0.725 and went to our target of 0.67. That’s close to a 7% drop. Using Poems Cfd to short would enable shortist to hold their position for more than a day. Taking some profit would be wise too.
Food Empire saw some rebound after hitting our support line and we might see some rebound maybe to 0.7 area. We will be watching now to see if 0.67 support holds and if that doesn’t then we might see more downside to 0.64. We’ll watch and see.
We’ll be holding a workshop very soon to share with all our readers very simple trend lines that we use which we post on our blog. Do stay tune.
Alliance Mineral a lithium related stock and a stock that we been covering since Jan is seeing some interest today. It has seen an increased in volume today which is something to watch for.
Alliance Mineral is currently resisted by the downtrend line and we’re looking to see if it can break above that. If it can stay above 0.365 we might see more upside. Our stop loss would be around 0.31.
Note that Alliance Mineral is placed under the trading restriction of poems do trade with caution. Always be alert and ensure that whenever one trades he/she buys at comfortable level and have the ability to pay up in case anything happens.
Do contact us if you want to know more about trading restriction and how to have a safe trade plan.
Wheelock Properties has reached our first resistance of 1.935 since we blogged on it last Tuesday . It broke its resistance of 1.895 and move up to 1.935. We would take some profit at 1.935 and hold some to see if it can break 1.935 to test 1.98.
Trading plan is important as we have talked about many times in our post. Using simple support resistance and support lines helps to guide our profit taking and stop loss.
Do contact us if you want to know more about having a trade plan and using trend lines to help sharpen your trading.
Wing Tai was a property related stock which we brought to your attention just on Tuesday along side with Wheelock during our post. It had a nice run up of about 3.5% today which is very decent.
Whats the reason for that? Could it be the disposal of Winnanmax Investment to Xu Chang Co which was out on Tuesday?
Or could it be rumors of privatisation?? Either way lets look at the chart and play accordingly.
On Tuesday we mentioned to turn your attention to Wing Tai too as rumors could be going around for it to be privatize. The horizontal resistance of 1.945 was then broken on that day which was an entry point. It wasn’t the best closing on Tuesday but on Wednesday it did show some signs of recovery which eventually led to the nice movement today. Our next target might be 2.08.
If you were unsure of how to enter Wing Tai do CONTACT US and we’ll be happy to guide you along.
Wilmar a STI Index stock was a stock we posted back on 29th May on our blog. Slow and Steady the way we like it and down she goes very near to our target of 3.48 now. A nice drop in two weeks. We have shown how we managed a trade and with our target in sight this is when we might consider taking some profit off the table .
Wilmar has also broken the 200ma which is a technically a bad sign and more downside might come. But we will stay vigilant and cover all the shorts if we spot some rebound coming. This can only be judged during the trading day and if you want to know more just contact us here
Kelwin and Roy awarded
Top 10 Trading Representative of
Phillip Securities 2016
Roy and Kelwin with Phillip Securities Chairman Mr Lim Hua Min at Phillip Securities 2016 Top 10 Trading Representative Award Event.
Being awarded the Top 10 Trading Representative in Phillip Securities for 2016 was a delightful experience that we will never forget! This marks a significant and important milestone in our (12 years combined) careers as Remisiers. We are truly grateful that our efforts and professional services to our clients have paid off.
Looking back to where we first started – our infancy months as remisiers were tough and definitely not an easy walk in the park. Early in our careers, we incurred a huge contra loss (>$100k) due to a client bankruptcy. Needless to say, it was a devastating setback. However, we remained positive and barrelled through with our heads high and our chins up. With sheer determination and blessings from God, we continued delivering our best efforts to our clients and strived to provide excellent service.
Receiving this award is a testament not only to our track record, but also to our will and mental resilience in coming out of the red (literally!). Over the years, we have serviced numerous clients who trust us and we are ever grateful to their loyal support and partnership with us. Thank you for your belief and contribution to where we stand today. Our accomplishment has not only inspired us to continue providing better and more innovative service to our clients, but has also given birth to this blog.
The blog was created from our desire to reach out to you, our readers. If you have been following us for the past year or just happened to stop by, give us 5 more minutes for us to tell you who we are and what we stand for.
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So who we are?
Kelwin and Roy have been licensed remisiers and joined Phillips Securities at the same time. Working together for the past 6 years has strengthened their abilities and skills, while learning to support one another in this professional partnership.
Kelwin
Roy
Kelwin with his well deserved award.
Kelwin is married to a beautiful wife, and they have a lovely daughter who turns 1 in May 2017. Before switching to be a licensed remisier, Kelwin worked at a bank for 2 years. Stocks and trading have always been a strong passion of his since his school days. Just one year after joining Phillips Securities, Kelwin was awarded Top CFD rookie in 2012. And went on to clinch the Most Improve Trading Representative Award in 2014. In his free time, he enjoys working out in the gym and swimming with his daughter.
Roy with his well deserved award.
Roy was in the Aviation Industry for 5 years before switching to be a licensed remisier with Phillips. With much experience in the US market, Roy has seen through many market ups and downs. Having seen the market crash from the collapse of Lehman Brothers on his birthday of 15 Sep 2008 has taught him that having a disciplined trading plan is crucial. Roy is happily married with a baby boy who just turned 1 in April 2017. He was also accolade the Most Improve Trading Representative Award in 2014. In his free time, he enjoy swimming and hiking with his family.
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First, we are highly passionate about the stock market and want to deliver as much knowledge that we have to our clients. We are motivated and believe in giving our best efforts for maximal client benefit!
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Wilmar, a palm oil related stock which we blogged about just a day back came tumbling down today to hit a low of 3.52.
It broke below the horizontal support of 3.60 which we have drawn and went to as low of 3.52. Not bad in a day. But of course we always preach slow and steady. =) Wilmar has been down for a couple of days so do take note of that. Our target still stays at 3.48 but we’ll shift our stop loss lower now to 3.62 level. So worse case if wilmar rebounds we’ll break even.
The support will now be the resistance and we’ll add 1-2pip more just in case. We’re using Poems CFD to short the markets and not doing a naked short.
For those who has been asking how to use CFD to short, stay tune we’ll be calling for a seminar shortly.
Yours
Humbly
Kelwin&Roy
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