Market Technician

Straits Times Index (STI) Technical View: Primary Trend (6mths or more) : Bearish Secondary Trend (1-6mths)     : Bearish Short Term(1mths or less)     :   Neutral Trading the Singapore Market Long Term Trades : Not Preferred Mid Term Trades  : Not Preferred Short Term Trades: Long Trade and Short Trade Levels to watch: Resistance 2: 3,043 Resistance 1: 2,912 Support    1: 2,793 Support    2: 2,740 Probable STI Movement Preferred  : Sideway range between 2,800 - 2,900 Alternate  :  Downward trend towards 2,750 Remarks: STI maintained its sideway momentum with no breakout from its trading range. In view of the above, STI possible movement for the coming remains likely to rangw between 2,800-2900. Comments on STI Technical View Primary Trend is bearish as 55 Days SMA is trading below the 144 Days SMA, and 144 Days SMA continues to be downward sloping. Secondary Trend is neutral as MACD bullish crossover signal is observed but trades below the zero line.

Straits Times Index (STI) Technical View: Primary Trend (6mths or more) : Bearish Secondary Trend (1-6mths)     : Bearish Short Term(1mths or less)     :   Bearish Trading the Singapore Market (Long Trades) Long Term Trades : Not Preferred Mid Term Trades  : Not Preferred Short Term Trades: Not Preferred Levels to watch: Resistance 2: 3,100 Resistance 1: 2,950 Support    1: 2,845 Support    2: 2,740 Probable STI Movement Preferred  : Sideway range between 2,800 - 2,850 Alternate  :  Downward trend towards 2,750 Remarks: STI showed strength this week range up to ta high of 2,868.87, instead of further downward movement. In view of the above, STI possible movement is ranging between 2,800-2850. Comments on STI Technical View Primary Trend is bearish as 55 Days SMA is trading below the 144 Days SMA, and 144 Days SMA continues to be downward sloping. Secondary Trend is bearish as support is broken and MACD resumes bearish and trades below the zero line. M

Ezion (5ME)   Bullish Momentum Continues Last Done: S$0.605   Ezion breakout of its 20 days Moving Average with strong volume. This signals strong buying especially with both ROC(13) and MACD turning positive.   Its recent announcement to diversify its business outside Oil & Gas into the offshore wind power installation industry in China looks well received. Thus, Ezion looks likely to trade towards its first resistance at S$0.635 and then S$0.70 if S$0.635 is broke up with strong volume.   *Disclaimer Apply 

Straits Times Index (STI) Technical View: Primary Trend (6mths or more) : Bearish Secondary Trend (1-6mths)     : Bearish Short Term(1mths or less)     :   Bearish Trading the Singapore Market (Long Trades) Long Term Trades : Not Preferred Mid Term Trades  : Not Preferred Short Term Trades: Not Preferred Levels to watch: Resistance 2: 3,100 Resistance 1: 2,950 Support    1: 2,845 Support    2: 2,740 Probable STI Movement Preferred  : Bearish   down trend towards 2,740 Alternate  :  Sideway range between 2,845 - 2,900 Remarks: STI looses momentum again this week with its 2,845 support broken and both MACD and ROC(13) reversed back to bearish. In view of the above, STI possible movement is trading towards its next support at 2,740. Comments on STI Technical View Primary Trend is bearish as 55 Days SMA is trading below the 144 Days SMA, and 144 Days SMA continues to be downward sloping. Secondary Trend is bearish as support is broken and MACD resumes beari

Genting Sing (G13): Signs of Bullish Momentum Last Done: S$0.78 Genting Sing broke out from its small consolidation zone, S$0.75-S$0.77. Currently, resting on a classical resistance turn support price level of S$0.77. Bullish MACD is also observed. These positive signs amid a soft market are bullish signs. As long S$0.77 support holds, Genting SP has the momentum to retest its next resistance at S$0.83 . *Disclaimer Apply

Straits Times Index (STI) Technical View: Primary Trend (6mths or more) : Bearish Secondary Trend (1-6mths)     : Bearish Short Term(1mths or less)     :   Bullish Trading the Singapore Market (Long Trades) Long Term Trades : Not Preferred Mid Term Trades  : Not Preferred Short Term Trades: Preferred Levels to watch: Resistance 2: 3,100 Resistance 1: 2,950 Support    1: 2,845 Support    2: 2,740 Probable STI Movement Preferred  : Bullish  uptrend trades towards 2,950 Alternate  :  Sideway range between 2,845 - 2,900 Remarks: STI traded sideway for the week as forecasted. As we observe that ROC(10) continues to be in uptrend momentum, this implies that the is strength within the last week's sideway movement and we may see a short term uptrend price movement this week. This week will also be a crucial week for STI. As both STI's momentum indicator MACD will test its signal line and ROC(10) will test its zero line. A successful breakout for both, will l

Rowsley (A50): Bullish Momentum Resumes Last Done: S$0.186 Stock price moved after Business Times reported that Peter Lim, company co-owner, has announced that it will speed things up at the company. Ng Ser Miang, has also been announced to be the new Chairman of the company. The series of good news likely to get traders and investors excited with the stock's price action showing signs of possible uptrend momentum, with possibility of retesting its nearest resistance at S$0.20 . A breakout from S$0.20, would see the stock's uptrend movement resume. The bullish signs include white candle break up with high volume and MACD bullish crossover observed. *Disclaimer Apply

GLP (MC0): Rest Support Last Done: S$2.08 GLP rebounded from its S$1.965 low trading, currently near its S$2.10 resistance. Volume is flat as it trades near its resistance. This shows that traders are still not convinced that the stock will trade higher than here.  Thus, we may see selling pressure coming in again to retest its S$1.965 support. *Disclaimer Apply

Linc Energy (TI6): Steady Momentum Last Done: S$0.205 Good volume on white candles and low volume on black candles signal possible accumulation by informed investors or traders. As long such buying momentum continues, we should see stock retest its resistance zone with S$0.235 as first target and then S$0.25 , if S$0.235 is successfully broke out . *Disclaimer Apply