Sunday, December 27, 2015

Chart[4] - Super Group

This week was a short trading week with relatively light market volume, yet in the case of Super Group, traded volume was fairly elevated compared to previous trading sessions.

The counter has an immediate support in the range of $0.825-0.835. Short term moving averages (MA) are showing initial signs of turning up, suggesting the possibility for further upward movement. Should there be a follow through on the trading interest in the coming week, the counter needs to overcome the current resistance level of around $0.855 (where the weekly chart shows the banding of shorter term MA and the upper end of the Bollinger Band is located on the daily chart), with the immediate price objective of $0.87 (about the 50 day MA). If the counter manages to clear the 50 day MA, the next price objective would be $0.91 and possibly $0.95.




Friday, December 18, 2015

Chart[3] - City Development

Earlier this week, the company announced that it would monetize some office assets to unlock value. The news saw a spike in the share price of the counter with volume, and though the new is positive, it has not exactly "broken free"of the downtrend as yet.

For the week ahead, short term moving average (MA) are about to attempt a crossover from below suggesting that there is support in the range of $7.3 to $7.38 should it experience a correction. Immediate resistance to overcome is the upper limit of the Bollinger Band at $7.66 and the 50 day MA at about $7.72. Clearing those resistance levels, in what would be a short and light trading week, would suggest that it could attempt a movement to about $7.93, with $8.06 the next significant price objective though it is unlikely to happen in the week ahead.




Saturday, December 12, 2015

Chart[2] - Genting Singapore

Since the time Chinese President Xi commenced his anti corruption campaign in China, Genting Singapore along with Hong Kong listed casinos operating in Macau have been fairly poor.

As can be seen from the daily and weekly charts, the overall trend has been to the downside, though there are some tentative signs that it might be attempting to turn around.

Genting Singapore closed the week the week at $0.765, which is both the 20 day MA and middle of the Bollinger Band. The easing this week has been on declining volumes, however it is difficult to determine if it could also be due to the overall quietness in the market, where participation is light due to it being the end of the year. Should the next support level of $0.755 be breached, the counter could drift to the lower limit of the Bollinger Band which currently resides around the $0.735 level, followed by the previous low of $0.695.

The immediate resistance range for the counter to overcome is $0.77 to $0.785, preferably with large volume supporting, this would suggest $0.83 as being the next price objective. 




Friday, December 4, 2015

Chart[1] - ST Engineering

The week the counter experienced relatively high trading volumes compared to previous weeks and the seeming formation of the three white soldiers pattern (Tuesday / Wednesday / Thursday trading sessions), coupled with the counter making higher lows since Aug (25 Aug 2015 low was $2.70, 29 Sep 2015 low was $2.82 and 1 Dec 2015 low was $2.83) and a higher high (28 Aug 2015 high was $3.13 and 29 Oct 2015 high was $3.38) suggests that perhaps the counter might be turning the corner on its downward movement. The 50 day moving average (MA) has also started to flatten out which is a slightly promising sign to a trend change.

For the record, do not possess a crystal ball that tells me the future, however assuming that the above does turn out to be correct (changing of trend), the current market price $2.94 would be a decent entry price into the counter. Immediate resistance is the 20 day MA which is at $2.97, followed by the 50 day MA at $3.09, then the current upper limit of the Bollinger Band at $3.15. Clearing those resistance levels would see the counter retest the 200 day MA which is about $3.30.

Immediate support is at $2.92/93 where the 10 day exponential MA (open and close) reside.



THREE WHITE SOLDIERS
http://www.investopedia.com/terms/t/three_white_soldiers.asp