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Wednesday, September 27, 2017

Alliance Mineral - Broke Out of its Downtrend for the first time since April

Alliance Mineral - This stock  was trader's favourite when it rose from 0.10 to 0.43 in Apr , it went into a tailspin when the debt problem between the CEO and Jonathan Lim surfaced. This debt problem will soon blow over and trader's will soon refocus on the fundamentals of the company. Next month the company is expected to  announce the resource upgrade of Ball Hill which could see the extension of the life of the mine which will warrant an upgrade. China  move  towards faster adoption of Electric Vechicle  targets will increased the demand for lithium dramatically augurs well for the company.
On the charts, the stock has broke out of its downtrend and for the first time moved above the 50 days MA. This is a signal of a short term reversal that could take the stock higher.
A strong support has been estabilised at 0.255, the next resistance is 0.315 and 0.34 respectively.

All posts and charts are for educational and illustration purposes only
Friday, September 22, 2017

DBS - Head and Shoulders In the Making?

DBS - Head and Shoulders Pattern in the making? Broke and stayed below 50 days MA, a break below key support at $20.00 would form a reversal Head and Shoulder  and a topping out pattern that will trigger a downside target to 19.25 and 18.50 respectively!

All posts and charts are for educational and illustration purposes only

US markets celebrates new high but No Joy In STI

US Markets celebrates  new highs but no joy with STI. This week new highs in US markets have been met with a bearish divergence in the STI. In the regional markets STI and the ASX200 display the weakest technical profile. STI has broke below the 50 days MA as well as the lower boundary of the uptrend channel. The uptrend in STI that we saw since Dec 2016 is now in doubt and a break below 3200 will open the door to a downside target of 3150 and 3110 respectively. At the meantime, STI is expected  trade within the 3210 , 3225 and 3245 range. This blog will turn bullish on STI only when it breaks above 3250.

All posts and charts are for educational and illustration purposes only
Thursday, September 21, 2017

GL Ltd - Turning Around After 4 Years Downtrend

GL Ltd. (Guocoleisure) - Could finally be turning around after a 4 years downtrend on worries of Brexit, weak Pound and depressed oil sector. In May 2014 , this stock went to a high of 1.20 on privitisation rumours.  With Brexit near settlement, oil sector bottoming out and the Pound recent spectacular recovery, it stock could be beginning to turn around. The charts is showing huge accumulation at 0.72 levels, at 0.76 today it has climbed to stay above the 50 days MA and broke above its downtrend channel, which potentially points to  an upside target of 0.82 and 0.92 respectively.


All posts and charts are for educational and illustration purposes only
Friday, September 15, 2017

Where is the stock market heading? Watch the Dollar!

Where is the market headed? Watch the Dollar!

Global Markets rally remains a counter dollar rally. The Dollar Index briefly broke its 3 years low  (91.8)  touching 91.01 before rebounding to trade above. The dollar weakness reflects the faltering confidence of Trump's ability to deliver tax reform. The US house speaker Paul Ryan has announced that the reform tax outline will be announced on the week on 25th Sept. If investors renew their believe  that  the reform tax  can make America Great again, it will be the best chance for a Dollar rally. A Dollar resurgence will be detrimental to the market. A break above 93 in the dollar index could trigger a huge technical rebound on the upside to 97.5.  Watch the week of 25th Sept!
All posts and charts are for educational and illustration purposes only
Thursday, September 14, 2017

Tax Reform - To Be Announced In the Coming 2 Weeks

Tax reform - the most anticipated news this year will finally be announced. Paul Ryan, Speaker of the United States House of Representatives announced that the outline of the tax reform could be released in the week of 25 September 2017. Dow Jones should be trading within a 100 point range until the news is released.


All posts and charts are for educational and illustration purposes only

Rowsley- Trade Plan On 30 August was Spot On!

On 30 Aug this blog said that Rowsley had formed a strong base between 0.105 - 0115 and is poised for a break to the upside. A break above 0.121 will trigger an acceleration to 0.131. This was actually what happened today. The stock closed low today at 0.124 after hitting at high of 0.132. The macro uptrend of  this stock is still intact , a retracement to 0.12 and 0.116 will be at another opportunity for the bull who missed out the last call on this blog.


All posts and charts are for educational and illustration purposes only
Wednesday, September 13, 2017

Banyan Tree - Due for a Steep Correction

Banyan Tree - UOB Research upgraded this stock from 0.64 to 0.93 yesterday representing a 45% upside. This blog was a seller at 0.67 based on the trade plan showing a short term peak at 0.67. With the price reaching and upper end of the channel trendline coupled with a huge volume blow up suggest that the BB could have taken the opportunities to unload the stocks capitalising on the UOB report. This blog believes that the longer term uptrend is intact, however, an imminent pullback to 0.625 and 0.595 is on the cards before the stock could resume its uptrend.


All posts and charts are for educational and illustration purposes only
Monday, September 11, 2017

Companies that will benefit from the Hurricanes

Companies that will benefit from the hurricanes. These companies will have upside in the short term. Those dealing in homebuilding materials — think Weyerhaeuser, Louisiana-Pacific and USG — to road aggregates — Martin Marietta Materials' wheelhouse — to roofing — the specialty of Owens Corning and Beacon Roofing.
All posts and charts are for educational and illustration purposes only
Friday, September 8, 2017

STI Trade Plan - Strong Support At 3195 Looks Set To Break

The index could hit the next support of 3195. A break below 3195 will trigger a severe correction to 3150 and 3120.


All posts and charts are for educational and illustration purposes only
Thursday, September 7, 2017

The Bull and Bear Dilemma

Most traders already know September is a scary month for stocks because on average, it is a decided loser for the market. Going back to 1950, the S&P 500 has been losing an average of 0.67% for the month, and has logged more losses (38 of them) than gains (29) during that 67 year span. 

Why are investors not selling yet? The bulls are holding up the market for the most anticipated news this year, Trump’s promised US tax reform bill which is supposed to make consumers richer and US corporations more competitive and hence, "Make America Great Again". President Trump struck a deal with the Democrats to add a three month extension to the debt ceiling that which deadline was 31 Sept 2017. This could pave the way for the tax reform, which may be announced in the next few weeks. The Tax Reform is a key campaign promise of both Trump and the Republican Party.  The Republicans are also excited to push the tax bill through ahead of the congressional election in November.

Dampening this bullish mood is the the geo political tension in the Korean Penisula. North Korea is expected to conduct a missile launch over the weekend, and traders are not taking chances after the lessons learnt from last weekend North Korea nuclear test.

With US market at 9 year high and valuation in a bubble territory, the bears are looking for a correction that has eluded them for so long.

This blog believes that the conditions for a Bear market are largely in place. News of US Tax Reform could give the market a last leg up.

In the meantime, the market will remain quiet and range bound. This blog will avoid holding big overnight long or short position until news of the Tax Reform is announced. Day trade remains the most preferred strategy for now.




All posts and charts are for educational and illustration purposes only
Saturday, September 2, 2017

Gold - Bullish Breakout from a 6 months Consolidation Range

Gold - Broke out of a 6 months consolidation zone, reinforce the initial breakout from 1208 to 1294 range to provide an initial breakout target upside to 1350 - 1360. Stay bullish as long as it stays above the 50 Days Moving average

All posts and charts are for educational and illustration purposes only