singapore technical analysis

IFast – [ Covering Gap? Were You Fast Enough? ]

Kelwin & Roy IFast , , , , , , , , ,
4th January, 2021, 10:10 PM

IFast – [ Covering Gap? Were You Fast Enough? ]IFast 4th Jan 2021

Chart Source: Poemsview 4th Jan 2021

What a good start to the year as IFast which we were eyeing in Dec after the brutal sell down made a nice move up today. You can read more about our thoughts on IFast over HERE.  We have not given up on this counter even though it didn’t win the digital banking license as that was just one upside component for this counter.  It had consolidated for the last three weeks or so and finally today when it crossed the 20ema that was when we alerted our EXCLUSIVE CLIENTS.

After crossing  the 20ema of around $3.10 it didn’t look back and charged forward towards our targets. A nice upside of over 4.5% was seen intraday hitting our initial target of $3.21. From the technical perspective, our next potential target is $3.33. Also if you have read our previous post on IFast there was some potential entry point back when it was trading at $2.90 for a longer term view.

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Kelwin&Roy

IFast – [ Brutal 35% Sell Down, It Is Over Done?? ]

Kelwin & Roy IFast , , , , , , ,
8th December, 2020, 2:49 PM

IFast – [ Brutal 35% Sell Down, It Is Over Done?? ]Ifast 8th Dec 2020

Chart Source : Poemsview 8th Dec 2020

Ifast didn’t manage to win the digital wholesale banking license announced last friday(4th Dec) evening and saw its stock HAMMERED down over 35% yesterday. What was interesting was that on Friday, Ifast saw a move up in price probably anticipating some sort of announcement and maybe even hopes of winning it. But who knows……It failed to win and eventually saw a MASSIVE GAP DOWN and would probably have trapped many retailers who chased on Friday.

So what’s our game plan now? Should we panic and sell out? These are some of our thoughts.

  1. Ifast said in their announcement that MAS is still reviewing whether to grant more of the DWB licences in the future and IFast is still committed in its pursuit of a digital banking licence. ” The Group will continue to work on improving its range of solutions and services to further add value to global investors, wealth advisers
    and corporates using its Business-to-Consumer (“B2C”), Business-to-Business and Fintech Solutions. ” This sounds positive to us and if MAS were to issue out new licences, Ifast could be a good potential winner next round.
  2. IFast together with PCCW is also a candidate to digitize the HK pension system. A win for this could boost Ifast bottom line. Of course if they fail to win this, it’ll be another set back. Dates for the results for this is still unknown. We’re neutral on this.
  3. A 35% sell down might not really be justifiable. A massive sell down of 35% might be overreacting to not winning the licence.
  4. Approval for securities dealing in Malaysia could boost its revenue growth. It is also continuing to grow its AUA from its hard work from the past few years. Positive for us

Lets take a look at the chart. We can see that there is a support at around $2.67 follow by $2.48. The resistance is around $2.95 then the 5ema of around $3.24. If you’re looking at a longer time frame, a scale in at various levels of around the range of $2.70- 2.90 might be a good opportunity. Our target in the longer run is for the price to cover the gap with $3.35 , 3.63 then $3.9 as our upside target. Don’t go all in at once but scale in your investment in 3-4 batches.

We’re hopefully of IFast longer term  price and this might be a good opportunity to take advantage of the drop in price.

Share with us your views too! Just contact us here!

Yours

Humbly

Kelwin&Roy

Straits Times Index – [ Advanced Warning Given, Were You Prepared? ]

Kelwin & Roy Straits times index , , , , , , ,
30th November, 2020, 7:49 PM

Straits Times Index – [ Advanced Warning Given, Were You Prepared? ]Straits Times Index 30th Nov 2020

Chart source: Poemsview 30th Nov 2020

Our Straits Times Index (STI) had an impressive run for the month of Nov up close to 20%! It is probably one of the most amazing month for our index in a long while. But as the saying goes, what goes up, must come down!

With such a steep upside we suspected a pullback would be on the cards very soon. So we sent a message warning our clients of a pullback and sharing our thoughts. We also attached a chart so that they’ll understanding it better.

The Straits Times Index saw a massive profit today after such a huge run up. The initial support at the 5ema gave way and the the downside started coming in. This took the index down over 2% to about the 10ema of about 2810. We’re glad we alerted our clients last week of a potential downside. A pullback like this is considered healthy to us if the market wants to sustain its upside move.

So what’s next for our index? Let’s see the charts and from it we might continue seeing some selling pressure if STI can’t stay above this 10ema support and might see it move down to even test the 20ema.

Be alert!

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Kelwin&Roy

Frencken – [ Possible For Further Move Up? ]

Kelwin & Roy Frencken , , , , , , , ,
25th November, 2020, 7:31 AM

Frencken – [ Possible For Further Move Up? ]Frencken 25th Nov 2020

Chart Source: Poemsview 25th Nov 2020

Frencken started its engine late evening yesterday when volume started piling in. We saw some positive price action in Frencken a week back and alerted our EXCLUSIVE CLIENTS then.

We can see from the chart that volume has increased and how it managed to stay above the $1.09 resistance too. The uptrend line is currently supporting Frencken too. These are positive signs for us and if this continues we might see it eventually move up to $1.19.

Other electronics stocks are starting to move too, with Hi-p taking the lead this round.

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Kelwin&Roy

Keppel Corp – [ Up 10% Since Alert, Next Stop?]

Kelwin & Roy Keppel Corp , , , , , , , , , , ,
23rd November, 2020, 7:17 AM

Keppel Corp – [ Up 10% Since Alert, Next Stop?]

Image source: Keppelcorp.com

Keppel Corp 23rd Nov 2020

Image Source: Poemsview 23rd Nov 2020

Keppel Corp one of Singapore’s stock darling has been on a downtrend for awhile before finding some footing at the double bottom of around $4.08. It was only after it released its recent set of results that actually saw some buying interest. It’s also part of the STI component stock hence we can see why STI has been moving up.

The bullish engulfing candle on 30th Oct came with volume which caught our attention but as there was a downtrend line and the 50ema nearby we waited for confirmation. So as Keppel Corp gathered strength we alerted our clients on 5th Nov of this trade analysis. Letting them in on how we analyze our stocks as seen from above. We’re glad it hit our second target of $5.10 up 10% since our alert. So what’s next for Keppel Corp?

As usual, let’s take a look at the chart to see it from a technical perspective. As Keppel Corp has risen a fair bit from the bottom, a break or pullback would be healthy in order for it to continue its upwards move. A pullback to the 5ema of around $4.80 might be an opportunity to scale in if you missed the first round. An eventual target we might see could be the longer term downtrend line of around $5.40+.

Continue  to keep watch!

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Kelwin&Roy

SATS – [ Time To Take A Breather? ]

Kelwin & Roy SATS , , , , , , , , ,
20th November, 2020, 7:10 AM

SATS – [ Time To Take A Breather? ]

Image source: Sats.com

Sats 20th Nov 2020

Chart Source: Poemsview 20th Nov 2020

With news of a potential vaccine coming out, transport, airline, hospitality all saw a nice recovery. Sats is one of them that benefited from this news. As Sats is part of the STI component stock, it has also pushed the STI up for the last few days.

Way back in Aug Sats was already mentioned here in our Blog and in late Oct we updated once more when  Sats was trading around $3.14. A month later and it’s now trading at $4.14 a very nice upside of over 30% since oct.  Now with all the optimism in the air and with prices running up quite a bit, the question is is it time to rest?

To answer that, let’s take a look at the charts. Firstly, we noticed that as the price increases, the volume actually starts decreasing, not the most positive sign for a strong uptrend. Also common indicators would show it being in the overbought region too. Lastly, it had an eight day move up ever since the gap up so some rest or pullback is not much to ask for. Current resistance is around $4.18 – $4.20 and some pullback to $4 which is around the 5ema or slightly lower would be healthy for SATS.

Keep a lookout!

Yours

Humbly

Kelwin&Roy

HPH Trust – [ Riding The Wave Up, Where’s The Next Resistance? ]

Kelwin & Roy HPH Trust , , , , , , , ,
18th November, 2020, 1:47 PM

HPH Trust – [ Riding The Wave Up, Where’s The Next Resistance? ]HPH Trust 18th Nov 2020

Chart Source: Poemsview 18th Nov 2020

HPH Trust up 12% so far, saw a gap up this morning and never looked back ever since! It would honestly be mentally tougher to try to get in there when there was better opportunity the week before.

From our post just last week, we saw HPH Trust trading at $0.154 breaking its horizontal resistance with an increased in volume and that was what caught our attention. We can see that the 5ema supported the stock and volume was very low during each profit taking which presented another good chance for entry.

From a technical point of view, HPH trust has hit two of our targets, $0.160 and $0.167 and $0.172 is the previous high resistance. Breaking that might see it test the 0.177 resistance which you’ll need to zoom out of the charts to see. HPH Trust had some coverager over here. And as mentioned from our previous post, with biden winning the US election , a less aggressive foreign policy could see some relief in the shipping sector.

We hope you managed to learn something from our sharing! Have a good trading day ahead!

Yours

Humbly

Kelwin&Roy

 

ComfortDelgro – [ Riding The Recovery Wave, Is It Time To Take Profits? ]

Kelwin & Roy Stock Market , , , , , ,
18th November, 2020, 7:17 AM

ComfortDelgro – [ Riding The Recovery Wave, Is It Time To Take Profits? ]

ComfortDelgro 18th nov 2020

Chart Source: Poemsview 18th Nov 2020

Hard hit stocks relating to tourism like SATS, SIA and even Comfortdelgro saw a nice rebound in the last few session as news of potential vaccine crowded the headlines. Transport, hospitality, airline stocks all had some nice gains as investors started to rotate to these stocks on hopes of recovery.

Comfortdelgro part of the STI component was a stock that we were eyeing for a recovery when a vaccine is found as demand for taxi would start increasing as people start to travel more and tourist starts to come back too. We saw some positive price action at around $1.49 just last Wednesday and alerted our EXCLUSIVE CLIENTS as shown above!

We’re glad Comfortdelgro had a positive move up reaching our 2nd price target of $1.61 gaining 8% in a week! It is currently at the 200ema and given its a long term resistance, we won’t be surprised if it takes a break first before continuing on its journey to $1.68 and maybe even $1.79. So taking some profits here is not wrong to us. =)

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Yours

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Kelwin&Roy

OCBC – [ Sector Rotation, Cyclical Sectors Benefiting]

Kelwin & Roy OCBC , , , , , , , , ,
11th November, 2020, 5:49 PM

OCBC – [ Sector Rotation, Cyclical Sectors Benefiting]OCBC 11th nov 2020

Chart Source: Poemsview 11th Nov 2020

OCBC along with the other two banks saw a surge in price over the last few days and even before the election results were out. As these three banks make up quite a heavy component of the STI, it was no surprise that we saw the STI trending up the last few days too.

We wanted to be prudent and wait for results to be out before entering the market as we never know what may happen and anticipating results could result in being a hero or zero! As OCBC showed signs of interest and life on monday we alerted our EXCLUSIVE CLIENTS on this trade analysis and we’re glad OCBC gave us a favourable run. From our alert of $9, it has ran up to $9.58 which is more than 6% in three days!

From a technical perspective , OCBC has ran up for about 5 days and today’s volume has started to decrease. Some possible scenarios, we might see it push higher to our next target of around $9.84 which is also the gap resistance in the next couple of days. Optimism on vaccine news has funds flowing to the more cyclical sectors on hopes of recovery. It could also take a break as it ran up quite a bit so having a break is a positive thing. We’ll prefer for a retracement before looking at it again.

Want to cut through the noise and get such trade alerts straight to your handphone?

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See you onboard soon!

Yours

Humbly

Kelwin&Roy

HPH Trust – [ A New Up Wave Coming? Let’s See The Charts]

Kelwin & Roy HPH Trust , , , , , ,
10th November, 2020, 7:07 AM

HPH Trust – [ A New Up Wave Coming? Let’s See The Charts]HPH 10th Nov 2020

Chart Source: Poemsview 10th nov 2020

HPH Trust USD saw an increase in volume with a nice upside movement too. Let’s take a look at it from a technical perspective. It has broken above its horizontal resistance of $0.148 and with volume coming in we might see it push towards the next resistance at $0.16 and maybe even $0.167.

With biden winning the US election , a less aggressive foreign policy could see some relief in the shipping sector.

Keep a close eye for HPH Trust. We’re looking at the USD one so take note of the foreign currency.

Yours

Humbly

Kelwin&Roy