STI

After days of gains, people have been waiting for the pullback

I must say that this period is meant for traders, as it was pretty choppy from last Oct till now. For STI, 3218 is the point where i will look for support. Although the wave had been choppy, some stocks still moved well. Just have to be careful on the selection, you should be able to make some profit.

Rotary Eng

Fresh from the oven, a newly breakout counter

Rotary is a slow moving counter. It has just broken out of the resistance price of $1.05. More significantly, the resistance is broken out with strength. You can observe it from the volume. Accordingly to the theory, a true breakout has to accompany with volume. Rotary has fulfilled this criteria. Again, trade at your own risk.

Midas

Try to pick some stocks that broken out of the consolidation,

I will be looking at $1 as the next resistance for Midas. And again, this is based on my own analysis. Trade on your risk.

Happy New Year

Wish everyone has a good year in the stock market for year of rabbit

The H&S is not valid, very lucky indeed. I managed to get some stocks at 3120 point, particularly the index stocks. Now as i am writing this, the STI is trading above 3220. It will become a bit tricky as the trend now is a sideway trend. It has been hanging around between 3120 & 3220, in a narrow range. But i have seen some stocks moved quite a substantial amount e.g. Gallant, Kep Corp etc.

The index may be hanging around the same range, it will take some skills to earn during this tough period. Again, trade at your own risk. Always keep an eye open during this period.

STI update

I was away from posting as the market moved according to what i had posted earlier

Let's get back to current situation. It has formed the neckline of the potential H&S. The right shoulder has yet to be shown. A lot of experts had declared the market to be a 'slow bull'. From the chart above, it has the potential to drop below 3000 pts. But first, it must form the right shoulder. Anything is not confimed until it cut through the neckline.

STI

Here is the big question, where is the support?

From the chart, it seemed to be heading toward 3158 (MA50). This point seemed to be a perfect support to form the H&S pattern. It's a time to be patient. If MA(50) point does not hold, the next point to look for will be 3120.

Genting

Here is the surprise gap-down for Genting,

From the above chart, you can see the drop-down. I am still searching for the reason for the sudden gap-down. This drop is hurting as it breaks the support of $2.18 and stable at $2.07 (SMA50). If SMA(50) is broken, it may be looking at the 100D MA which is at $1.70.