Sheng shiong which we posted came down to our target and slightly beyond
Currently the support around $1 is holding well and we might see it rebound to 1.06 in the near term . Our stop loss would be 0.99
Yours
Humbly
Our telcos took a heavy beating recently when news our the 4th telco will be coming online next year.
Starhub after selling down on tuesday had an exceptionally high vol and selling didn’t continue today .Could it be a climatic sell and some rebound in sight? Well, resistance is at 2.82 and if that breaks possible to cover gap to 2.90 and maybe even to 2.95. Cut loss would be at 2.71 below the horizontal support.
Yours
Humbly
OCBC has also hit our target of 8.88 and did a fake breakout and came back down.Hope you all managed to learned something from it. =)
It is now within the band of 8.70 and 8.88. We’ll now observe and see how the banks are doing. IF strength continues in the banks then once OCBC breaks 8.86 and stay above we might consider going long with a tight stop loss at 8.83 or 8.69
Yours
Humbly
Thaibev came down to our target of 0.87 =) Hope you all managed to learn something from the lines we drew and maybe even ride it down too
It has started it rebound and we added the middle band which is also near the 20ma, it could possibly rebound to there and start turning down or maybe to 0.95 and then start turning down. Remember these two levels. =)
Yours
Humbly
Olam, just broke its major $2 support and came down to its $1.945support. The chart looks a little like yoma to us. It has about 2 months consolidation and started to come down.
Friday’s volume was rather huge so its good to take note of it. The horizontal support is at 1.945 and if that breaks we might see it head towards the 200ma at about 1.86 in the coming days. Stop loss can be placed at 2.02
Yours
Humbly
Gold had a big spike on the day of the US election but once news settled Gold started its decline. Reason could be many, like market settling down, USD up due to trump spending on infrastructure and interest up potentially moving up in Dec
Cnmc a gold mining stock could also offer with the lower gold prices. It is currently sitting on the lower downtrend line which we drew . IF gold continues to fall we could see that downtrend line of 0.45 cents being broken and it might take us down to the 200m which is at 0.38 cents. But if gold rebounds then it could potentially rebound to 50 cents. Which side are you hoping for?
We’re slightly more on the bearish side.
Yours
Humbly
Sembcorp rather similar to our OCBC which we drew and ocbc broke out of the downtrend line and moved up close to our target. Hope OCBC went well for you all
So what do we do now for sembcorp? Lets watch for that downtrend line to see if can be broken. Entry could be about 2.65-2.66. Stop loss at 2.659
Yours
Humbly
Noble, failed to hold at the 0.181 horizontal support, it tried to rally this morning but got sold down in the late afternoon. With that we’ll look to short if it opens below 0.181 with a stop loss at 0.188. The next support we see is at 0.169
Yours
Humbly
Yoma, also similar to city dev in terms of technicals is hovering near its 200ma. In fact it broke its 200ma today but managed to just close above. Yoma has been consolidating for a few months and it broke down which might not be a good thing. Furthermore an increased in vol was spotted today. We’re consider a short once it breaks and stay below the 200ma. Cut loss can be a at 0.58. First support at 50 cents then 45 cents.
Yours
Humbly
Post on sunday just two days back and OCBC broke out and ran up. It moved up to a high of 8.78 can closed back down to the recent resistance of 8.73. We have drawn the potential resistance/targets for ocbc.Lets hope it can move up to 8.88 soon . =)
Yours
Humbly
