Micron Technology (MU) – [Up 10%, Following Up From Our Previous Post]

Kelwin & Roy Micron Technology , ,
16th November, 2021, 8:02 PM

Micron Technology (MU) – [Up 10%, Following Up From Our Previous Post]

Its been two weeks since we posted on the stock Micron Technology (MU) and ever since then we have seen it moving higher. It has broken above our downtrend line resistance which we drew and started a nice move up. Micron Technology has hit our first upside target of $76 very close to a 10% gain in under two weeks. We’re bullish on our $78 target and might even look at the next upside target of around $82.90. =) Of course, it will take time and not move in a straight line.

Take a look at the chart below for more details.

Micron Technology 16th Nov 2021

Chart source: AdvisorXs 16th Nov 2021

We hope you managed to learn something and catch a glimpse of how we analyze the market without complicated indicators and arrows.  Stay tune for our next post!

Yours

Humbly

Kelwin&Roy

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UMS – [ Why We Did This Yesterday Only After Results ]

Kelwin & Roy UMS , , , , , , ,
16th November, 2021, 7:25 PM

UMS – [ Why We Did This Yesterday Only After Results ]

UMS just reported its results last Friday with an earnings of $15.1 million for 3QFY2021, up 17% y-o-y. For the nine months, earnings shot up by 43% y-o-y to $50.4 million to a record while revenue was up 53% y-o-y to $184 million.

The record numbers came from the strong growth in the global semiconductor industry.

After looking at the results, we decided to alert our EXCLUSIVE CLIENTS on this trade as we saw that UMS might have the potential to break that $1.42 horizontal resistance. Why didn’t we alert them earlier? The reason to this is simple, we don’t like TRADING over results as results could swing any way and also depends on how analyst see it, their forward statement which is too much to anticipate. But for investors it would be a different story. We hold until the fundamentals changes.

We have seen far too many stocks gapping down after results not matching up and traders getting stuck. We like to err on the side caution and wait for results to see if momentum continues. Don’t forget, UMS ran up before results and if results didn’t meet expectations…then bye bye. If you trade the US markets, you know how brutal it can be if results misses expectation, a drop of 20-30% is possible.

As UMS was consolidating for awhile, and a break above that $1.42 might spark a new wave up, so that  was one rationale on alerting our clients. Also, it reported a good set of results. We’re glad it has hit our first upside target of $1.48 and now we got a nice margin of safety.

UMS 16th Nov 2021

Chart Source: AdvisorXs 16th Nov 2021

From the chart above, we might see UMS move higher even to that upper channel of around $1.70. Of course, it won’t move in a straight line. =).

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Humbly

Kelwin&Roy

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The Week Ahead (7) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy Straits times index , , , ,
14th November, 2021, 4:36 PM

We’re into the middle of Nov and we saw some pullback in the overall market BUT a certain sector stood out in our market! Electronic stocks which we mentioned in our previous  THE WEEK AHEAD post to look out for saw a nice push ahead after AEM’s results sending it to its all time high. Frencken also a boost after its results.

Recap for STI & HSI 

Banks pushed higher last week only with OCBC lagging behind. Once again it wasn’t a broad base rally  and being selective on certain sectors is key. Electronic stock was a sector that we were watching and since then it has started moving. We might see the laggards for this sector to start moving as some spillover effect takes place. SPH was gapping up due to bidding wars which saw its price moved up about 10% for the week. Energy sector is currently taking a breather.

Over in Hong Kong, things are heating up as support was tested and held and we saw a general rebound in HK stocks bringing some much needed rally in the sluggish market. Tech stock saw a good rebound and Xiaomi is a stock that is on our watchlist.

Key Events to Watch For 

  1. Core Retail Sales on Tuesday
  2. Building Permits  in the US to see how the housing market is doing , Crude oil inventories to see how demand for oil and economy activity is. Take note for oil related stocks.  All these are happening on Wednesday.
  3. We have jobless claims on Thursday to see how employment is.

Technical Levels to Watch For This Week 

STI

STI broke below thee uptrend line that has been supporting it and has pushed down to the 20ema also coinciding with our horizontal  support level. We haven’t been that bullish in the STI for the past weeks as most of the underlying components were not really moving. Some bounce came as the 20ema held it up but we’re not very bullish yet and might want to wait for clearer signs. Continue being selective as we can see that Electronic sector is reaping rewards. The bearish candle on friday might signal more downside and with a better base formed then will we have more conviction on the STI.

HSI

And there you have it, HSI being the beast of the east saw a very nice rebound off our support line. It came off with a hammer last Wednesday and crossing above our downtrend line and reaching our next level of resistance of around 25520 which is the uptrend resistance line. HSI does look like its gathering strength to break that resistance and charge towards the next resistance of 26240 area. Looking out for beaten down HK stocks!

Trade safe and remember to have a sound trade plan!

To know more about the outlook for S&P and Nasdaq, just CLICK HERE!

Have a good week ahead! Drop us a message if you want to discuss further!

Yours

Humbly

Kelwin&Roy

 

 

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TESLA – [ A Pullback Is Healthy, What Levels Are We Looking At?]

Kelwin & Roy Tesla , , ,
8th November, 2021, 7:34 PM

TESLA – [ A Pullback Is Healthy, What Levels Are We Looking At?]

TESLA is the No.1 google search in America within the auto space. The battery-electric Tesla is Googled 2.24 million times a month in the U.S., followed by Toyota with 1.83 million. And in case you haven’t read, Tesla has crossed the 1 trillion market cap joining in the ranks of Amazon and Alphabet. As you also know, we have been bullish on Tesla ever since last year, blogging it a couple of times in 2020 and even in Aug 2021.

Its a stock that we want to hold and with the news of Elon musk potentially selling  after twitter users vote YES! 

But is that a bad thing? Well, to us its a healthy pullback which offer us an opportunity to enter and especially if you don’t own an tesla shares. With news of Musk potentially selling shares, Tesla is down over 5% in pre-market to $1156. Fund managers might also potentially take some profits off the table which might lead to some more downward pressure.

Lets take at the chart for some possible support entry points.

Tesla 8th Nov 2021

For such a powerful uptrend we will use the 10 and 20ema as the potential support. Some levels of support might be around 1145, 1027 and then 950 at that gap up. $950 to us is  a strong support. But for investors, scaling  in batches  (dollar cost averaging) when it comes down is something an investor might want to consider at those support levels we mentioned. Stay alert!

To The Moon!! ??

 

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The Week Ahead (6) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy Straits times index , , ,
7th November, 2021, 4:42 PM

What a week it has been for the markets especially for the US side. Indices pushing to new highs but once again, not much love shown over in Asia.

Fed’s decision was key to market movement last week as previously highlighted as all eyes were on Chairman powell to deliver what the market wanted. For the most part, the Fed announcement came in as expected with plans to taper by reducing its bond purchases by $15 billion per month for November and December. This would end the Fed’s stimulus efforts by  about June of 2022. However, the Fed did say it would be flexible in that it could speed up or slow down the purchases as needed. ALSO, he decided to focus on tapering rather than mentioning much about interest rate in his  post-announcement press conference. Smart move there. Markets cheered the decisions and made new highs after.

Recap for STI & HSI 

For the STI, we did see some renewed strength in the banks as the three local banks posted good results thus bringing the index higher. But we didn’t see a broad base rally as only very selective stocks were pushing up the index like Jardine. We also saw a rebound in our electronic stocks as previously mentioned but results releasing could decide the fate of their movement.

Over at Hong Kong, some what same story as HSI continued to be resisted by the resistance we drew. But it came very close to our next support. Big tech in HK saw a mixed bag with no clear directions while the auto makers had some rebound.  We’re looking at HSI to form some support before taking any decisive actions.

Key Events to Watch For 

Singapore bank earnings are out, so we’ll continue to monitor our E stocks for their results. Do also take note of the earnings for the stocks that you’re looking at especially if you’re intending to take position in it.

A little of the same stuff like PPI on tuesday and Core CPI and Initial jobless claim on Wednesday are some of the key events.

Major earnings like Alibaba, Paypal on Monday and Tencent (ADR) on Wednesday. Do check out the earnings calendar over HERE to see when your company is reporting.

Technical Levels to Watch For This Week 

STI

STI has been bouncing off that uptrend support line that we’ve been drawing. As banks reported their results, that gradually pushed the index up above our 3234 resistance. Now staying above this might see if push further to 3280 level which is back in Jan 2020! The underlying stocks of STI has been rather weak without much following through so do be very selective in your stock selection and take profit fast before profit taking sets in.

SATS, E stocks are still some of the stocks that we are looking at.

HSI

Performing worse than our STI , HSI has been pulling back ever since hitting our resistance. It has now reached near our support of around 24667 and if we could see this hold then a good chance for some rebound might be on the cards.  There is  downtrend resistance line and the horizontal resistance of 25077 to overcome and if HSI manages to break this level then we might see a good rebound coming in. Tech stocks are on our list together with auto makers like Geely and BYD Co. Li Ning is also another stock on our watchlist.

Trade safe and remember to have a sound trade plan!

To know more about the outlook for S&P and Nasdaq, just CLICK HERE!

Have a good week ahead! Drop us a message if you want to discuss further!

Yours

Humbly

Kelwin&Roy

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Frencken – [ It Has Started Moving, Who’s Next? ]

Kelwin & Roy Frencken , ,
2nd November, 2021, 8:19 PM

Frencken – [ It Has Started Moving, Who’s Next? ]

 

It was a rather quiet day in our markets as only a few certain stocks led the charge up! Although our STI was up, it was mainly driven by JHM, Wilmar and UOB!

As mentioned  in our week ahead post, we were looking at E stocks to start moving and true enough it came through. The first move came when Frencken started moving and it was a rather fast move up as it had been consolidating for over a week and finally a good move came in. Our client were alerted well before the breakout as it came fast and furious. Volume has increased and we might see it move up to that lower uptrend channel. Once there, we might see profit taking coming in as the resistance there could be strong.

AEM has been creeping up slowly over the past week which has been hitting our targets , so our next target might be UMS or even grand venture. These two counters hasn’t move much so its on our radar now. But do take note of their results which might be around the corner.

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Humbly

Kelwin&Roy

 

 

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Micron Technology (MU) – [Technical Outlook ]

Kelwin & Roy Micron Technology , ,
2nd November, 2021, 6:00 PM

Micron Technology (MU) – [Technical Outlook ]

Micron Technology, Inc. is an American producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and USB flash drives.

It has actually beat earnings estimates in sept but share of Micron Tech was down as it failed to impress Wall Street with its outlook. The memory maker reported fiscal fourth-quarter net income of $2.72 billion, which amounts to $2.39 a share, compared with a net profit of $988 million, or 87 cents a share, in the year-ago period.

Micron (MU) said that it expected fiscal first-quarter earnings of roughly $2 a share, on revenue of about $7.65 billion. Analysts have been forecasting earnings of $2.53 and revenue of $8.54 billion. Chip shortage continue to hinder growth and of course led some of the selling.

Technical outlook 

Micron Technology 2nd Nov 2021

Chart source: : Poems2.0.com

We can see that MU has form a nice little base at around the $65 range and from there start to move up slowly. From the chart, it is currently near the 50ema and also the downtrend line. If MU manages to break above these resistance of around $71, we might see further upside to $76 then $78. Downside support is around $68 then $65.

With the current positive sentiments out there, MU does look like it might have more room to move up.

Keep a close watch on it!

Yours

Humbly

Kelwin&Roy

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The Week Ahead (5) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy STI , , ,
31st October, 2021, 4:27 PM

Good Day to all and yes we’re in the month of November already! And did you know that November is a seasonally better month for the markets? Some reason could be markets corrected in the previous months, market also anticipating pick up in business for the year end which might translate into short term  movement for share prices.

Singapore has also crossed the 5000 mark for covid cases, which we hope is a one time anomaly but it might be the norm in time to come too.

We’re hopeful for the month of Nov so lets dive into what we’re looking at.

Recap for STI & HSI 

STI remains sluggish ever since touching our 3200 resistance with a slight touch near our next resistance of 3200. Although US made new high our market failed to push higher. Only banks were moving with other blue chips generally on the decline.  As previously mentioned penny stocks continued to move up as focus shifted from blue chips to those small cap stocks. Energy stocks also saw a decline which might spell out some opportunities!

Over at Hong Kong, some what same story as HSI continued to be resisted by the resistance we drew. Mostly automakers were moving up while the tech stocks were declining. Also during the week, some China, US news caused some neagtive sentiments in the market.

Key Events to Watch For 

Earnings continue to take center stage as Wall Street look to company’s earing for growth and the strength of economy. Forward statements are important as this tells us if the company is bullish going into the rest of the year.

Singapore banks will be reporting soon so that might give a boost to the market depending if they meet market expectation and whether their forward statements are positive.

ISM Manufacturing PMI for Oct on Monday (1st Nov) is one data to look at,  ADP Nonfarm Employment Change, ISM Non- Manufacturing on Wed (3rd Nov)

FOMC statement and FED rate decision on 3rd Nov will be what market will be looking to for guidance. Then jobless claim on thursday and unemployment numbers on Friday to see the strength of US employment.

Also keep an eye on US and China tensions too.

Technical Levels to Watch For This Week 

STI

STI holding on to its short term uptrend line with resistance of at around 3200. If STI breaks that uptrend line we might see a pullback to the 20ema of around 3168. This is a healthy pullback to us and we’ll take the chance to trade some beaten counters. We cautioned not to be aggressive in our previous post as STI’s momentum started to slow down and nearing key resistance of 3200 where profit taking did come in. For now, we’re adopting a bit of wait and see approach with E stocks, Ifast, SATS all in our watchlist. =)

HSI

We’re also seeing weakness in the HSI with it hitting our resistance. It is currently at its first support which we think that it might break. We might see HSI moving lower for the week to around the 25k level. The 5ema is currently sloping down which is not a good sign if you’re long. So near term some weakness might come in.  Tech stocks hasn’t stabilize yet as in our last post so we’ll continue to watch it for the week.

Trade safe and remember to have a sound trade plan!

To know more about the outlook for S&P and Nasdaq, just CLICK HERE!

Have a good week ahead! Drop us a message if you want to discuss further!

Yours

Humbly

Kelwin&Roy

 

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DBS – [ All Time High! What To Take Note Now?]

Kelwin & Roy dbs , , ,
27th October, 2021, 7:33 PM

DBS – [ All Time High! What To Take Note Now?]

Image source: giphy.com

DBS has hit an ALL TIME HIGH (ATH) and given such a climate its in, it deserves a clap! Hitting all time high also means that it has hit our second target of $31.80.  The move in DBS is also helping to sustain the gain in our STI as DBS is part of the STI component stock. We’re glad that DBS is moving the way we want it to since our alert at $30.55 before the breakout but here’s a few things to take note of and not get overly excited.

  1. Its Q3 results are coming out on 5th Nov before market opens. As we always preach, its a gamble to play over results especially if you’re trading the stock. If you saw what happen to IFast after results you will know what we mean. Despite a good set of numbers, the stock got sold down. Could that happen to DBS? will the results live up to the analyst? Who knows? Will the market like the results? So playing over results does carry more risk in our opinion.
  2. On the chart, if DBS starts showing weakness closing with a weak bar, that might be a sign of profit taking and for those traders, it might be a sign to come out.
  3. DBS might be running ahead of results as most banks overseas are reporting good results so sentiments and expectations are building up.

So with these points, do take note when trading DBS! Our next upside target is in the message!

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Yours

Humbly

Kelwin&Roy

 

 

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Coinbase (COIN) – [ Keep A Close Watch! ]

Kelwin & Roy Coinbase ,
26th October, 2021, 8:03 PM

Coinbase (COIN) – [ Keep A Close Watch! ]Coinbase 26th Oct 2021

Chart Source: Poems2.0 26th Oct 2021

Coinbase is an American company that operates a cryptocurrency exchange platform.  As of March 2021 it was the largest cryptocurrency exchange in the United States by trading volume. Coinbase will benefit from increasing adoption of  cryptocurrency as more and more investors are turning to crypto as an alternate form of investment.

If investing in the coins is not something you are comfortable with but want some exposure to the crypto world then coinbase might be one of it. We will cover more of it in due course but have drawn the chart and we’re looking at more upside as the world continues to adapt to crypto . Either wait for pullback to find entry or Coinbase has broken out of its horizontal resistance and might be looking at more upside.

What are your thoughts on Coinbase? We’ll be happy to hear them

Yours

Humbly

Kelwin&Roy

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