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Boustead F9D - Potential Further Mark Up

Boustead F9D - Potential Further Mark Up S$1.02 Company just reported its financials 2 weeks ago, revenue and earnings rebounded with it's energy and industrial real estate solution divisions are seems benefiting from industry trends. Stock is fairly valued at PE ratio of 7.60x, while dividend yield is at 5.39%p.a. OCBC recently wrote a research report on Boustead, with valuation at S$1.47. First technical target, S$1.11 zone, stop below S$0.99. Disclaimers apply
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Weekly Market Ahead

  Thoughts on the Week Ahead: Week of 17 June 2024 "No Elon, No Tesla" – Tesla shareholders have spoken, with more than 70% approving Elon Musk’s pay package. With his position secured, the market will be looking for more commercial innovations from Tesla Inc. In the US markets, over the past weeks, tech companies have outperformed the broader market, with a 38% gain compared to the broader market's 19% gain since 27 October 2023. Therefore, to achieve alpha or increase the probability of a higher win rate, positioning and tactical trades in technology companies are preferred. The Straits Times Index (STI) retraced lower since hitting the 3,350 resistance level, with immediate support at 3,250. The China Market (China A50) is in the technical support zone , and we are looking for more evidence of market demand to confirm any theory of a trend reversal. Investors could consider adding to bond ETFs (e.g. ZROZ ETF) for both the US and Singapore markets in batches, as bond

Weekly Market Update

  Thoughts on the Week Ahead: Week of 10 June 2024 Yes, at 39, Cristiano Ronaldo, will be joining Portugal's squad this coming weekend for the UEFA Euro Cup 2024. And who do you think will be crowned the Kings of Europe this year? Most of our focus will be on the upcoming US FED FOMC announcement. The market largely expects no changes to the target rate. However, our eyeballs and ears  will be on the FED Chairman’s speech, particularly if the committee continues to believe that inflation has plateaued, after a hotter-than-expected jobs report on Friday. Markets are expected to be muted ahead of the announcement, and Chairman Powell’s speech could lead to directional moves for bonds and equities. Nvidia’s stock spilt on Monday will also be watched by many, if a “cheaper” Nvidia would attract more investors interest. Technically, the S&P 500 is hovering below its key resistance area of 5,426, with our Fund Flow Index (FFI momentum Indicator), indicating uncertainties in the marke

Weekly Market Update

  Thoughts on the Week Ahead: Week of May 27, 2024 Taking a lift down from the HDB flat, enjoy a brisk walk to Sixth Avenue for Sunday breakfast. This scenario, unimaginable many candlesticks ago, is soon becoming a reality in Singapore. This week, the spotlight is on the US PCE inflation report, which has the potential to move the market. The market expects a 0.3% uptick, a notable deceleration from March. The US earnings season is nearly over, with attention remaining on results from Costco and Dell. In China, May's official PMI figures are anticipated to reflect a modest expansion in manufacturing, shedding light on the potential allocation of over CNY 1 trillion in stimulus from long-dated bonds. Market technicals for the S&P 500 continue to suggest an upward trend, but we are very cautious about the market as the earnings season ends and investors re-evaluate current valuations. Our target remains at 5,400, with immediate support at 5,260. Our trading strategy for the week

Keppel DC REIT (AJBU): Expect price to trade towards S$2.00

  Keppel DC REIT (AJBU) Expect price to trade towards S$2.00 We have observed a decrease in technical supply at the S$1.80 support area during recent trading sessions. Furthermore, a softer interest rate outlook could be advantageous for the Data Centre operator.  Consequently, we anticipate the REIT to move towards our initial target of S$2.00, with the potential to reach S$2.20 if it breaks through resistance. Our stop level is set below S$1.72. Disclaimers Apply

Market Weekly Outlook

  Thoughts on Week Ahead: Week 19 May 2024 “It’s Fresh!” US markets hit fresh highs this week, driven by modest CPI data and resilient earnings reports. Investors are now awaiting the FOMC minutes for clues on the future interest rate policy. Additionally, Nvidia’s upcoming earnings report is expected to shed light on the strength of the current AI-driven rally. We initially anticipated sideways momentum in the US market indices, but the market exceeded our expectations, breaking above our range. As a result, we have revised our technical outlook to cautiously bullish, setting our next target at 5,420. In the East, Beijing is implementing more aggressive policies following its trillion-dollar bond sale. The central government plans to buy back unsold homes and eliminate mortgage rate floors for individuals. Our team believes that even more aggressive measures may be introduced if necessary to revive the economy and stabilize falling property prices. The Greater China indices, China A50

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