Tuesday, December 3, 2019

S&P 500 - Flashing Red

S&P 500 could have topped out and could be heading for a huge correction.


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Monday, December 2, 2019

SGX – Breaking Out Of the Range


  • Recent price action triggers a bullish implication of a multi year basing pattern and breaking out of the 2016-2018 trading range between 6.80 to 7.70 adds more evidence to the upswing cycle.
  • Breaking above resistances at 8.50 and 8.80 will set the stock for another swing up to its next upside target at 9.60.
  • Staying firmly above its 200 days moving average since early 2019 confirms the uptrend is intact.
All posts and charts are for educational and illustration purposes only
Friday, November 29, 2019

UOB - Trading within a Range


  • UOB is trading between the range 24.30 to 27.00. After touching 27.00 level in early November it has retraced to its 200-day MA support level.
  • The current pullback could continue towards the next support at 25.4.
  • A break below 25.40 could trigger a downward move toward 24.30 which will offer an opportunity to accumulate new long position in anticipation of a rebound.
All posts and charts are for educational and illustration purposes only

PetroChina – Downtrend Intact


  • PetroChina is still a significant underperformer within the China A50 index stocks as price action maintains a series of lower highs that has formed since November 2018.
  • Today it broke its 3.70 support and if it stays below this level, it could test the next support at 3.44 in the short term.
  • It trades significantly below its 200-day MA and the longer price objective points to a target of 3.11.
All posts and charts are for educational and illustration purposes only

Hang Seng Index - Middle Of The Range But Expect A Corrective Pullback

  • A corrective pullback is underway after bouncing off the November highs. Current resistance is capped at 7212.
  • The short-term price action indicates a pullback to 26050 which coincides with the support on the long-term uptrend.
  • A break below the 26000 to 26050 range would be bearish and would bring our attention to the next support at 25390.
All posts and charts are for educational and illustration purposes only

Straits Times Index – Losing Steam

  • The FTSE STI is unable to hold above the 200-day moving average support and is showing sign of reversal to test the next support at 3142. A break below 3142 could trigger a test of the next support at 3090.
  • The STI currently sits below the 200 days MA but is above its long-term trend line support. A break below the long-term trendline support could result in prolong weakness of the index.
  • The resistance is capped at 3227.
All posts and charts are for educational and illustration purposes only
Wednesday, November 27, 2019
Thursday, November 14, 2019

Breadtalk - Sign of Life



All posts and charts are for educational and illustration purposes only
Thursday, November 7, 2019

Yangzijiang - Bearish Price Action

On 5th November, it was ramped up on high volume, giving the impression that the stock has finally turned around after a period of consolidation. Today, the stock reversed to give up almost all its gains. Many traders were caught on 5th November and it will take many more days before the stock can turn up again. It could test the last support 0.95 in the short term. A break below 0.94 could see the stock price testing its low at 0.91 again.


All posts and charts are for educational and illustration purposes only
Monday, November 4, 2019

China Everbright - More Upside Ahead In The Short Term

China Everbright (CEWL.SI)

A unusual huge volume spike today could be an indication the stock had bottomed after a prolong downtrend . Next target is at 0.345 and 0.375.
All posts and charts are for educational and illustration purposes only