I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.

This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.

Tuesday, 4 April 2017

China Aviation Oil



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