The Market Technician

I've been invited to share with Trading Representatives on my charting views for the Technology Sector. With top performers this year such as Venture Corp, AEM and UMS, I believe there are other gems to be uncovered through Technical Analysis.

Hi-P (H17): On Watch-list for Breakout Technical Observation: The stock is trading in a range-bound behaviour, re-accumulation characteristics such as increasing volume on buying and light volume on selling which provides Wyckoff Traders supporting evidence of a re-accumulation zone. 1st Target       : S$0.775 Breakout Entry: S$0.710 Stop Price       : S$0.670 RR Ratio         : 1.63x

Security Name RS 13 MA Short St 144 MA Long St FTSE STI CON SERV 25.4587 25.1058 0.3529 25.3814 0.0773 Strongest FTSE ST REAL ESTATE INVESTMENT TRUST 24.3474 24.1827 0.1647 24.7485 -0.4011 FTSE STI FINANCIAL 27.4689 27.3781 0.0908 27.034 0.4349 FTSE ST REAL ESTATE INDEX 25.2806 25.2274 0.0532 24.7069 0.5737   FTSE STI SMALL CAP 12.8323 12.792 0.0403 13.0524 -0.2201   FTSE STI BAS MAT 3.5852 3.555 0.0302 3.4444 0.1408   STI FTSE STRAIT TIMES INDEX 100 100 0 100 0   FTSE STI TECHNOLOGY 7.2121 7.2228 -0.0107 8.0868 -0.8748   FTSE STI ALL SHARE 24.4514 24.4688 -0.0174 24.4923 -0.0409   FTSE STI CONS GOODS 16.6019 16.6205 -0.0185 17.6698 -1.0679  

YZJ (BS6): MARK DOWN Technical Observation: The stock experience climatic buying (CB) in early Mar 17. It traded range bound as for the whole of March. Today the stock marked down from its range trading at 1.07, completing the distribution range. 1st target for YZJ is S$1.00. This is a previous resistance-turn-support level and also a whole-number level.

Shared with the audience that with the right understanding, forecasting using Technical Analysis is not complex. STI has reached its mid-term objective of 3,200 zone following its upward trend since early 2016. Technical observations showned that the index has touched a previous support created in 2014 and Fibonacci level hitting 261.80%, MACD also reaching a peakish level at 76.5. Thus, traders may hold off their LONG trades, till the index has retraced to a significant support level. Following is the s weekly chart presented at the event.  

Sheng Siong (OV8): BREAKOUT Technical Observation: The stock broke out this morning from its Accumulation zone which lasted 4 months since Dec 16. Selling Climax was seen in late 2016 with higher than normal volume. Also, Momentum (MACD) forming a bullish “Head and Shoulders” reversal Pattern, These observations provides adequate indications that the downtrend has likely to bottomed, coupled with the 4 months accumulation and breakout, we are likely to see the stock mark from current trading range. Probable Trade Plan as follows. Target Price   : S$1.10 Current Price : S$0.985 Stop Price      : S$0.945 R/R Ratio       : 2.88x  

Just completed a sharing session on the technical charts of some of the Consumer Sector stock to the Trading Representative community via webinar. Some of these stocks are definately showing more demand than others.

China Aviation Oil (G92): BREAKOUT Commentary: Oil price (BRENT) continues to trade above US$50/bbl amid recent sell off. Higher oil price is beneficial as it helps boost the company's trading profit. Company will be announcing its 1QFY17 earnings on 19 Apr 2017. Technical Observation: China Aviation Oil (G92) broke out this morning from its Re-accumulation Zone which lasted 6 months since Jul 16. Volume is encouraging on rally and momentum (using MACD) remains bullish with recent bullish crossover. This gives positive indications that the stock is likely to enter into a new Mark Up Zone which may see the stock trading towards 423.6% fibonacci projection at S$1.92, probable high of the Mark Up zone. Probable Trade Plan as follows: TP: S$1.92 EP: S$1.61 SL: S$1.51 Risk/Reward: 3.1x