Olam 310308

Olam today broke 4 resistance with volume. More importantly, it broke the 2.18 psychological resistance (red --) and long term uptrend resistance (blue).



However, Olam closed below the 2 resistances (blue, red --), but managed to close above the long term downtrend resistance (red) and uptrend resistance (upp green).

Would be interesting to see if Olam can open above the 2.18 psychological resistance (red --) and long term uptrend resistance (blue) tomorrow. If it does, then Olam might be able to test the downtrend resistance (upp pink).

For tomorrow :

Support @ 2.126 (upp red), 2.067 (mid pink), 2.03 (low green)
Resistance @ 2.16 (upp green), 2.18 (red --), 2.216 (blue), 2.277 (upp pink)

Good Luck !!

Lian Beng 310308

After rising for the past 6 trading days, Lian Beng broke 3 support trendlines today. Would it be going for another dip ?



For tomorrow :

Support @ 0.385 (mid pink), 0.337 (low pink)
Resistance @ 0.400 (low red), 0.420 (low purple), 0.425 (upp pink), 0.457 (upp red)

Good Luck !!

China HongX 310308

Although China Hongx is still trading within the uptrend channel (purple), there could be some signs of profit taking as China Hongx closed on the day low.



Looking at the chart, the resistance looks to be around the 0.650 level (red --).

For tomorrow :

Support @ 0.5685 (mid green), 0.5316 (low green), 0.5022 (pink)
Resistance @ 0.6055 (low purple), 0.6272 (upp green), 0.650 (red --)

Good Luck !!

Yangzijiang 280308

Yangzijiang broke the downtrend resistance (upp pink) today with volume. From the chart, you can also see Yangzijian also tested the 3 resistances today.



If Yangzijiang continues to trade within the uptrend channel (blue), there is a chance Yangzijiang might break the 1.01 psychological resistance (red --) sometime next week.

For monday :

Support @ 0.9805 (upp red), 0.908 (upp pink, low blue), 0.795 (low pink)
Resistance @ 1.01 (red --), 1.025 (mid blue), 1.123 (upp blue)

Good Luck !!

Uni Asia Finance 280308

Uni Asia Finance came to within a whisker of the long term downtrend support (red) on 20 mar. Thereafter, Uni Asia Finance managed to recover and is now trading within the uptrend channel (blue).



Uni Asia Finance also broke the downtrend resistance (upp pink --) on 25 mar, and another resistance (upp green) today. On both days, the break out was with volume.

If Uni Asia Finance continues to trade within the uptrend channel (blue), we might see it testing the 0.760 psychological resistance (blue --) next week.

For tomorrow :

Support @ 0.713 (upp green), 0.660 (low blue), 0.6116 (mid green), 0.567 (low pink, upp pink --)
Resistance @ 0.736 (upp red --), 0.760 (blue --), 0.791 (upp blue), 0.800 (upp pink)

Good Luck !!

STX Pan Ocean 280308

It has been another roller-coaster ride for STX Pan Ocean since its fall on 10 mar. STX Pan Ocean broke the 2.82 psychological support (blue --) on 13 mar. And in a matter of 9 days, it broke up the 2.82 resistance.

STX Pan Ocean is now trading within the uptrend channel (green --). It tested the uptrend resistance (upp green --) today, before closing above the 2.82 psychological support (blue --).



For monday :

Support @ 2.82 (blue --), 2.76 (low green --), 2.647 (upp blue), 2.60 (mid red)
Resistance @ 2.978 (upp green), 3.07 (upp green --), 3.186 (upp red)

Good Luck !!

SPC 280308

SPC was trading sideways for the last few days, before breaking out today. SPC broke 2 downtrend resistance (upp red, upp red --) with volume. SPC also broke the 6.66 psychological resistance (red ...) and closed above it.



It would be interesting to see if SPC can open above the 6.66 psychological resistance (red ...) and continue to trade within the uptrend channel (blue --).

For monday :

Support @ 6.66 (red ...), 6.626 (upp red --), 6.55 (upp red, low blue --), 6.33 (low red)
Resistance @ 6.905 (mid blue --), 7.15 (upp blue --), 7.347 (green --)

Good Luck !!

Sky Petrol 280308

Sky China Petrol broke the uptrend resistance (upp green) and 0.335 psychological resistance (blue --) today with volume. The last time Sky China Petrol had a volume of more than 10m lots was way back on 19 feb.



I've readjusted the trendlines for Sky China Petrol. From the chart, Sky China Petrol could be on the tail end of a double-bottom formation.

In order for the downtrend to be effectively reverse, Sky China Petrol would have to break the neckline resistance of 0.375 (red ...).

If Sky China Petrol can break the neckline with volume convincingly, we might see it testing the next neckline resistance of 0.460 (green --).

For the short term, if Sky China Petrol continues to trade within the uptrend channel (blue), we might see it testing the 0.375 neckline next week.

For monday :

Support @ 0.335 (blue --), 0.3237 (upp green), 0.315 (light blue --), 0.3093 (low green, low blue).
Resistance @ 0.3534 (low red --), 0.360 (upp blue), 0.375 (red ...).

Good Luck !!

SGX 280308

SGX was trading sideways after breaking out of the long term downtrend resistance (red --). However, SGX is still trading within the uptrend channel (blue), and it also tested the downtrend resistance (upp pink).



From the chart, you can see that SGX is getting closer and closer to the long term uptrend resistance (green). If SGX can continue to trade within the uptrend channel (blue),, and open above the downtrend resistance (upp pink) on monday, there is a high chance SGX can break the downtrend resistance (green). Of course, there must be volume.

For monday :

Support @ 7.566 (low blue, upp red), 6.736 (low red), 6.00 (low pink), 5.885 (red --)
Resistance @ 7.81 (upp pink), 8.275 (green), 8.60 (upp blue)

Good Luck !!

Semb Marine 280308

Sembcorp Marine tested the neckline (red ...) today but failed to break it. Although it broke the uptrend support (low green), Sembcorp Marine still managed to close above the 2 downtrend support (upp red, low pink).



Sembcorp Marine could trade sideways (within the pink channel) next week before testing the neckline again. If Sembcorp Marine is able to break the neckline, we could see it testing the 4.20 level.

For tomorrow :

Support @ 3.724 (low green), 3.611 (upp red), 3.58 (low pink), 3.43 (low blue)
Resistance @ 3.76 (upp pink), 3.82 (red ...), 3.90 (mid blue), 3.963 (upp green)

Good Luck !!

Olam 280308

Although Olam managed to recover after breaking a few supports on 26 mar, the decreasing volume may indicate that there is still weakness in the recovery.



Olam would have to break the 2.18 resistance (red --) to show that is has really managed to reverse its downtrend. Looking at the chart, if Olam can continue to trade within the uptrend channel (green), we might see Olam testing 2.18 next week.

For monday :

Support @ 2.00 (low green), 1.985 (mid pink), 1.85 (low pink)
Resistance @ 2.136 (upp red, upp green), 2.18 (red --), 2.215 (blue), 2.292 (upp pink)

Good Luck !!

Lian Beng 280308

Lian Beng broke the 0.400 resistance level on 26 mar, and is now trading above 3 trendlines - the long term downtrend resistance (low red), and 2 downtrend resistances (low pink, upp pink --)



If Lian Beng can continue to trade within the uptrend channel (purple), and also break the long term downtrend resistance (upp red), we might see Lian Beng testing the 0.490 psychological resistance (green --).

For monday :

Support @ 0.405 (low purple), 0.400 (low red), 0.393 (low pink), 0.375 (upp pink --)
Resistance @ 0.4307 (upp pink), 0.460 (upp red), 0.4767 (upp purple), 0.490 (green --)

Good Luck !!

Ferro China 280308

Ferro China broke the short term 1.30 resistance level, and also managed to stay above it today. Looking at the chart, I've put the next resistance to be at the 1.44 level (red ...).



If Ferro China can maintain trading within the 2 uptrend channels (light blue, green), we might see it testing the 1.44 level next week. If the uptrend cannot be sustain, Ferro China would probably drop to the 1.20 level.

For monday :

Support @ 1.284 (low light blue), 1.240 (mid green), 1.223 (mid pink --), 1.18 (low pink --), 1.116 (low green)
Resistance @ 1.345 (mid light blue), 1.394 (upp pink --), 1.409 (upp green), 1.44 (upp light blue, red ...).

Good Luck !!

Cosco 280308

Cosco broke the downtrend resistance (low pink --) today and is still trading within the uptrend channel (purple).



If Cosco can maintain this uptrend momentum, we might see it testing the long term downtrend resistance (upp red) and long term uptrend resistance (light blue) sometime next week.

For monday :

Support @ 3.57 (low pink --), 3.467 (low purple), 3.327 (upp pink), 3.306 (upp red --)
Resistance @ 3.811 (upp purple, upp pink --), 3.936 (upp red), 4.009 (light blue)

Good Luck !!

China Aviation Oil 280308

Updated the trendlines, and you can see that China Aviation Oil first broke out the downtrend resistance (red --) on 25 mar with volume, hitting the 1.50 resistance (green ...) on the same day.



Thereafter, China Aviation Oil went side ways for 2 days, before breaking the 1.50 resistance today. Other than 27 mar, China Aviation Oil is still trading within the uptrend channel (purple).

If China Aviation Oil can open above the 1.50 resistance on monday, as well as continue to trade within the uptrend channel (purple), we might see China Aviation Oil testing the downtrend resistance (upp red).

If China Aviation Oil can break the downtrend resistance (upp red), it could at the end of its double-bottom formation.

For monday :

Support @ 1.50 (green ...), 1.472 (low red, mid purple), 1.387 (upp pink, low purple, red --)
Resistance @ 1.583 (upp purple), 1.627 (upp red)

Good Luck !!

China Sky 280308

The 1.10 level still seem a little difficult for China Sky. It came to within 2 cents of testing it today. The 1.00 level looks to be the temporary support (upp pink) as China Sky tested it on 27 mar.



If China Sky is able to break the 1.10 resistance, we might see it testing the 1.30 - 1.35 region. Keep watch on the volume too.

For monday :

Support @ 1.024 (low pink --), 1.00 (mid purple), 0.975 (upp pink), 0.921 (upp purple --)
Resistance @ 1.08 (upp red, low green), 1.10 (upp purple), 1.166 (upp green, upp pink --)

Good Luck !!

China HongX 280308

China Hongx seems to be trading within the upper green channel, finding it difficult to break the resistance (upp green).



From the chart, you can see that China Hongxing's low is following the uptrend support (mid purple). China Hongxing seems to be heading into a corner.

If China Hongx doesn't break the resistance (upp green) next week, we might see it breaking the support (mid green), or even testing the 0.50 level at around the downtrend support (pink).

For monday :

Support @ 0.579 (mid purple), 0.550 (low purple), 0.534 (mid green), 0.510 (pink)
Resistance @ 0.6105 (upp green), 0.615, 0.6705 (upp purple)

Good Luck !!

BakerTech 280308

BakerTech broke the 0.280 psychological resistance (green --) with volume today. BakerTech also closed on the day high, which is right on the uptrend resistance (mid purple).



Would be interesting to see if BakerTech can open above the 0.280 psychological resistance (green --) on monday. If it does, the resistance may turn into support.

For monday :

Support @ 0.2875 (upp red), 0.280 (green --), 0.2735 (low red), 0.270 (low purple)
Resistance @ 0.295 (mid purple, mid pink), 0.3076 (upp purple), 0.3105 (upp pink)

Good Luck !!

SPC 260308

As SPC was forced into a corner by the uptrend support (blue) and downtrend resistance (upp red), there was no room and SPC chose to break the support (blue).



SPC is trading within the broader uptrend channel (blue --) though. If SPC breaks this support (low blue --), we might see it testing the 6.40 level.

For tomorrow :

Support @ 6.493 (low blue --), 6.40 (mid red), 6.322 (low red --)
Resistance @ 6.588 (upp red), 6.616 (blue), 6.66 (light blue ....), 6.70 (upp red --)

Good Luck !!

SGX 260308

SGX broke out of the long term downtrend channel (red --) at the beginning of the week and is currently trading within the short term uptrend chaanel (blue).



There were some softening detected today, which could be due to profit taking. If SGX managed to break the downtrend resistance (upp red), we might see it testing the long term uptrend resistance (green).

For tomorrow :

Support @ 7.40 (low blue), 6.894 (low red)
Resistance @ 7.63 (upp pink), 7.70 (upp red), 8.29 (green, upp blue)

Good Luck !!

Semb Marine 260308

Sembcorp Marine broke the downtrend resistance (upp red) on 25 mar and is now trading within the uptrend channels (green, blue).



Sembcorp Marine seems to be on the end of a double-bottom formation. Currently looks to be testing the 3.80 - 3.82 neckline resistance.

If Sembcorp Marine fails to break the neckline, we might see it revisiting the 3.60 level.

For tomorrow :

Support @ 3.69 (mid blue), 3.634 (low green, upp red), 3.60 (low pink)
Resistance @ 3.772 (upp pink), 3.80-3.82 (neckline), 3.86 (upp green, upp blue)

Good Luck !!

Olam 260308

Looking at the chart for Olam, you can see that it broke quite a few support today. With the high volume traded today and a lower closing price, these 2 indicate that Olam has turned bearish.



I've re-drawn the trendlines to reflect the situation now. If Olam fails to hold on to the 2 support (low pink, low red) it is resting on today, we might see it testing the 1.80 level.

For tomorrow :

Support @ 1.90 (low red), 1.885 (low pink), 1.80 (mid red --), 1.655 (low red --)
Resistance @ 2.016 (upp red --), 2.12 (upp red, purple), 2.213 (blue)

Good Luck !!

Yangzijiang 250308

Although Yangzijiang recovered today, it is still trading within the downtrend channel (pink). It will have to break out this channel to have any chance of a reversal.



For tomorrow :

Support @ 0.8178 (low pink), 0.7867 (mid red), 0.705 (upp red --)
Resistance @ 0.928 (upp pink), 1.033 (upp red)

Good Luck !!

Olam 250308

Olam today broke the long term uptrend resistance (blue), although volume was just 2,000 lots more than yesterdays (15.7m vs 17.7m).



If Olam can trade above the long term uptrend resistance (blue), it will become quite a strong support.

For tomorrow :

Support @ 2.213 (blue), 2.107 (low purple), 2.038 (upp red --), 2.008 (low pink), 1.847 (low red --)

Resistance @ 2.271, 2.287 (low pink --), 2.32 (upp purple), 2.348 (upp pink --)

Good Luck !!

Lian Beng 250308

Although Lian Beng managed to recover over the last few days, you can see from the chart that it's still trading below many trendlines.



I think it'd be awhile before we can see Lian Beng testing the 1st psychological resistance (green --). First resistance looks to be around the 0.400 level.

For tomorrow :

Support @ 0.3545 (mid pink --), 0.344 (low purple), 0.3126 (low pink --)
Resistance @ 0.3834 (upp purple), 0.3922 (upp pink --), 0.4053 (low red)

Good Luck !!

Cosco 250308

Cosco today broke the downtrend resistance (upp red --) and also managed to close above it. Cosco's lows are also higher for the last 3 days, as indicated in the uptrend channel (purple) which I've added.



There should be some profit taking along the way but if Cosco can maintain this uptrend momentum, we might see it testing the long term uptrend resistance (light blue) at around the 4.00 level.

For tomorrow :

Support @ 3.40 (upp red --), 3.355 (low purple), 3.137 (mid red --), 3.018 (low red)
Resistance @ 3.645 (upp purple, low pink --), 3.897 (upp pink --), 4.00 (light blue)

Good Luck !!

China Aviation Oil 250308

China Aviation Oil is another counter that hit the long term downtrend support (red) on 20 mar, and recovered to break above the downtrend resistance (mid pink, upp red --) today.



I've added a short term uptrend channel (purple) and if China Aviation Oil can maintain within this channel, we might see it testing the downtrend resistance (upp pink) around the 1.62 level.

1.50 looks to be the resistance for the time being.

For tomorrow :

Support @ 1.388 (mid pink), 1.373 (upp red --), 1.327 (low purple), 1.279 (low red --)
Resistance @ 1.50, 1.55 (upp purple), 1.633 (upp pink)

Good Luck !!

China Sky 250308

China Sky broke 2 downtrend resistance today (low red, red --) with volume. It also tested the long term downtrend resistance (upp pink).



I've added a short term uptrend channel (purple) and if China Sky can maintain within this channel, it might test the downtrend resistance (upp red) at around the 1.10 level.

For tomorrow :

Support @ 0.880 (low red), 0.836 (low purple), 0.790 (red --), 0.771 (upp pink --)
Resistance @ 1.007 (upp pink), 1.041 (mid purple), 1.15 (upp red)

Good Luck !!

China HongX 250308

After hitting the long term downtrend support (red) on 20 mar, China Hongx recovered the next few days and even broke the downtrend resistance (pink) today.



I've added a short term uptrend channel (purple) to see if China Hongx can maintain its uptrend momentum.

For tomorrow :

Support @ 0.537 (pink, mid green), 0.470 (low purple, upp pink --), 0.428 (low green), 0.425 (low pink --)

Resistance @ 0.600 (mid purple), 0.616 (upp green)

Good Luck !!

BakerTech 250308

BakerTech today broke the uptrend resistance (upp light blue) as well as the downtrend resistance (mid pink) with volume, and closed right on the 0.280 psychological resistance.



BakerTech has been creating higher lows for the last 3 days. I've indicated this using the short term uptrend channel (purple).

If BakerTech can break the 0.280 psychological resistance, we might see it testing the long term downtrend resistance (upp pink) at the 0.310 level.

For tomorrow :

Support @ 0.271 (mid pink), 0.2647 (upp light blue), 0.2586 (low light blue), 0.255 (low purple)
Resistance @ 0.293 (upp purple), 0.300 (pink --)

Good Luck !!

Ferro China 240308

If you look at the chart from 14 jan till today, Ferro China looks to be forming a double-bottom formation. Neckline looks to be around the 1.60 level.



In the short term, Ferro China broke the uptrend resistance (upp light blue) and downtrend resistance (low pink --).

The short term target for Ferro China would be to test the 1.30 level.

For tomorrow :

Support @ 1.25 (upp light blue), 1.225 (low pink --), 1.183 (upp pink), 1.1316 (mid light blue)
Resistance @ 1.27 (mid pink --), 1.324 (light blue --)

Good Luck !!

Cosco 240308

Cosco today broke 2 downtrend resistances (upp pink, mid red). You can see from the chart Cosco's lows are also getting higher.

(trades for 20mar is not indicated)

For tomorrow :

Support @ 3.107 (low blue, mid red), 2.938 (upp pink), 2.75 (low red --)
Resistance 3.36 (upp blue), 3.457 (upp red --)

Good Luck !!

China Sky 240308

If we factor in last thur's (20 mar) trade, China Sky would have broken the downtrend resistance (upp red --) today. Again, volume was thin.

(trades (trades for 20mar is not indicated)

For tomorrow :

Support @ 0.8613 (upp red --), 0.8153 (upp pink --), 0.7312 (low pink), 0.7105 (low pink --)
Resistance @ 0.920 (low red), 1.027 (upp pink)

Good Luck !!

BakerTech 240308

BakerTech managed to close on the day's high and broke the downtrend resistance (upp red). However, volume is relatively thin.

(trades for 20 mar not indicated)

We would need to see if there is any follow through tomorrow.

For tomorrow :

Support @ 0.243 (low pink), 0.240 (22 jan, 19 mar lows)
Resistance @ 0.2575 (low light blue), 0.2672 (upp light blue), 0.2737 (mid pink)

Good Luck !!

Ferro China Research Report

by DBS Vickers Securities (19 March)

We paid a visit to Ferro China's production plant in Changsu, Jiangu recently and had the opportunity to meet up with the group's management.

Ferro China's third reverse cold rolling mill is on track for commercial production by 2Q2008, while two more galvanising lines are expected to be up by 2H2008 year.

After speaking to management, we believe Ferro China's sales growth in 2008 is likely to be driven mostly by higher volume sales of cold-rolled steel coils, which are in short supply and commanding attractive margins.

In summary, we have cut our FY2008 earnings estimate by 2% and raised our Fy2009 earnings estimate by 3%.

At 4.1x FY2008 PER and 3.2x FY2009 PER, valuations are undemanding.

- Research Report by DBS Vickers Securities (19 March)

Cosco Research Report

by Citigroup Research (March 17)

Amid concerns over a global slowdown, we believe Cosco is better positioned than its sector peers because of its (i) strong balance sheet, cash flow - Cosco exited 2007 with $900 million net cash and we project net cash will reach $1.35 billion and -9% FCF yield this year;

(ii) potential replacement of parent's large fleet of ageing ships can support and fill Cosco yards during a downturn. We are cutting our earning estimates by 9% to 30% over 2008 to 2010E to reflect lower margin assumptions and more conservative orderbook wins.

We introduce 2010 estimates, and assume 29% EPS CAGR over 2007 to 2010E.

Our target price is cut from $8.30 to $4.50 based on sum-of-parts valuation.

- Research Report by Citigroup (17 March)

China Sky Research Report

by DBS Vickers Securities (March 17)

Fears of rising oil prices and a slowdown in US demand and possibly rotational interest in new IPO, Li Heng (also a high-end nylon producer), have sent China Sky's share prices down 30%.

Despite a healthy operating environment and on-schedule expansion plans, China Sky is now trading at 5.1x FY2008F diluted PER, below its historical PER band of 5.4x to 18.4x.

Owing to the unfavourable change in investors' risk appetite and concerns about the competitive landscape beyond 2009 spurred by Li Heng's aggressive expansion plan, we now derive our valuation based on FY2008F earnings instead of blended FY2008/08 earnings.

We also reduced our PER multiple to 9x (which is below its average historical PER of 10.8x) to factor in the higher risk premium.

Consequently, our target price is reduced to $1.70.

- Research Report by DBS Vickers Securities (17 March)

Olam 190308

Olam today hit a 17 month low of 1.76 (-14.56%), breaking the long term downtrend support (mid pink, low red --).



Volume traded was more than doubled yesterday's.

For tomorrow :

Support @ 1.76 (upp red), 1.58 (low pink), 1.507 (low red)
Resistance @ 1.89 (low red --), 2.02 (mid pink), 2.089 (upp red --)

Good Luck !!

China Aviation Oil 190308

Not only did the rebound for China Aviation Oil not materialise, it went on to create new lows after 10 mar.



China Aviation Oil can't seem to be able to get out of the downtrend channel (red). There is a possibility that China Aviation Oil would first have to hit 1.15 (low red meeting low pink) before there's any chance of a rebound.

For tomorrow :

Support @ 1.213 (upp red), 1.18 (low red), 1.16 (low pink)
Resistance @ 1.324 (low red --), 1.403 (mid pink), 1.415 (upp red --)

Good Luck !!

China Sky 190308

China Sky indeed broke the downtrend support (mid pink --) on 17 mar, and went on to test (and broke) the 0.800 level on 18 mar, which is right on the long term downtrend support (low pink), before recovering to close above the support (mid pink --) today.



From the chart, you can see that China Sky is now trading within many downtrend channels (red --, pink -- and pink). If China Sky breaks the long term downtrend support (low pink), we might see it test the 0.600 level (low red --).

For tomorrow:

Support @ 0.8322 (upp pink --), 0.738 (low pink), 0.73 (low pink --), 0.6874 (low red --)
Resistance @ 0.9017 (upp red --), 0.941 (low red), 1.034 (upp pink)

Good Luck !!

China HongX 190308

China Hongx almost broke the downtrend support on 17 and 18 jan. Although it opened higher today, volume remained almost the same as yesterday's, and China Hongx also failed to break the downtrend resistance (upp pink --).



China Hongx is still trading within the downtrend channel (pink --). And if it continues to do so, we might see it testing the 0.400 level soon.

For tomorrow :

Support @ 0.430 (low green), 0.4074 (red), 0.3643 (low pink --)
Resistance @ 0.445 (mid pink --), 0.4862 (upp pink --), 0.5387 (upp green)

Good Luck !!

BakerTech 190308

The last time BakerTech hit 0.240 was 22 jan. Afterwhich, it traded sideways for awhile before breaking the 0.280 resistance (green --) by gapping up on 2 feb.



Would we see BakerTech going on another similar run this time? The situation then is slightly different to now. Previously, BakerTech fell from 0.390 to 0.240 in a matter of 10 trading days.

This time, the fall was less dramatic. And BakerTech has also broken the uptrend support (low light blue). So it may take a while for BakerTech to recover and test the 0.280 resistance (green --). Provided it doesn't break the downtrend support (low pink).

For tomorrow :

Support @ 0.230 (low pink, low red)
Resistance @ 0.252 (upp red), 0.2572 (low light blue), 0.2666 (upp light blue)

Good Luck !!

Cosco 170308

Cosco today create a new low by touching the down trend support (low red --) It is now trading within a few downtrend channels.

(Please note that the volume is wrongly indicated)

If Cosco continues to trade within these channels, 2.50 is not impossible.

For tomorrow :

Support @ 2.827 (low red --), 2.628 (low pink), 2.53 (low red)
Resistance @ 2.93 (mid pink), 3.243 (mid red), 3.26 (upp pink)

Good Luck !!

STX Pan Ocean 170308

As usual, STX Pan Ocean's dramatic rise during early feb, was met with an equally dramatic fall over the last few days.

I've done some housekeeping and redrawn the trendlines. STX Pan Ocean does not have many support left. If it breaks the long term uptrend support (low blue), we might see STX Pan Ocean testing the 2.09 low of 22 jan.

(Please note that the volume is wrongly indicated)

For tomorrow :

Support @ 2.356 (low green), 2.334 (low red), 2.25 (low blue)
Resistance @ 2.571 (upp green), 2.615 (upp blue), 2.677 (mid red)

Good Luck !!

Uni Asia Finance 170308

There was indeed a reversal, but it was short-lived. Uni Asia Finance could not sustain the momentum and broke the uptrend support (low green) on 13 mar.

(Please note that the volume is wrongly indicated)

However, Uni Asia Finance is still trading within the downtrend channel (pink --). And if it continues to do so, we might see Uni Asia Finance testing the 0.600 level soon.

For tomorrow :

Support @ 0.6228 (mid pink), 0.6018 (low pink), 0.578 (low pink --), 0.550 (red)
Resistance @ 0.6845 (low green), 0.6944 (upp pink --), 0.7252 (upp green), 0.760 (blue)

Good Luck !!

Yangzijiang 170308

Yangzijiang first broke the downtrend support (low pink) on 13 mar. Today it opened below the support (low pink) and only managed to touch it, before closing below it.

(Please note that the volume is wrongly indicated)

Yangzijiang is now trading within the downtrend channel (red --). If it breaks the channel's support (low red --), we might see it testing the 0.700 level.

As it is now, there is a higher chance now that Yangzijiang will test the 0.800 level very soon.

For tomorrow :

Support @ 0.800, 0.760 (low red --), 0.702 (low red)
Resistance @ 0.850 (upp red --), 0.857 (low pink), 0.870 (upp red), 0.970 (upp pink)

Good Luck !!

STX Pan Ocean 140308

Just when we thought STX Pan Ocean's double-top formation was going to be negated, the next day saw it breaking the 2.82 psychological support (blue --), although it managed to close above it.

Then on 13 mar, STX Pan Ocean closed below the psychological and uptrend support (blue). It is now trading within the downtrend channel (pink).

(Please note that the volume is wrongly indicated)

For monday :

Support @ 2.517 (low pink), 2.44 (low green), 2.42 (low red)
Resistance @ 2.82 (blue --), 2.86 (low blue), 2.88 (upp pink), 3.00 (upp blue)

Good Luck !!

SPC 140308

SPC broke the 6.66 support level on 13 mar. It closed right on the downtrend support (upp red) on 14 mar.

(Please note that the volume is wrongly indicated)

I've adjusted the uptrend support (low blue --) to match the lows on 24 jan and 14 mar. If SPC trades within this uptrend channel, we might see it test the 7.50 level again.

However, if SPC breaks this support (upp red), it might trade within the downtrend channel (red) and test the 6.00 level.

For monday :

Support @ 6.57 (upp red), 6.35 (mid red), 6.02 (low red)
Resistance @ 6.66 (low blue --, light blue ...), 7.11 (upp blue --)

Good Luck !!

SGX 140308

There wasn't any follow through after SGX broke the 2 long term downtrend resistances (red, upp red --) on 12 mar.

(Please note that the volume is wrongly indicated)

Subsequently, SGX traded below these resistances, and even broke the downtrend support (low pink) on 13 mar. SGX even opened and closed just below the downtrend support (low pink) today. Only positive note was it seems to have found some support about the 6.62 - 6.68 region.

If SGX continues to trade within this downtrend channel (red --), it might test the 6.00 level soon.

For monday :

Support @ 6.796 (low pink), 6.247 (mid red --), 5.795 (low red --)
Resistance @ 6.91 (red), 7.05 (upp red --), 7.716 (upp pink)

Good Luck !!

Semb Marine 140308

Sembcorp Marine managed to close above the neckline as well as the uptrend support (low green), although during the day, it did break a few supports.

(Please note that the volume is wrongly indicated)

We may see Sembcrop Marine trading sideways as the market tries to find its footing.

For monday :

Support @ 3.44 (low green), 3.36 (upp blue), 3.32 (upp red), 3.272 (low blue), 3.20 (mid red)
Resistance @ 3.527 (low light blue), 3.60 (upp green), 3.697 (upp light blue)

Good Luck !!

Olam 140308

Although Olam managed to break above the long term downtrend support (pink) on 12 mar, the next day saw it falling below the support (pink) and into the downtrend channel (red --).

(Please note that the volume is wrongly indicated)

Olam has already tested the 2.00 level twice - on 10 and 13 mar. We might see Olam going sideways as the market tried to find its direction.

For monday :

Support @ 1.945 (low red --)
Resistance @ 2.133 (upp red --), 2.214 (pink), 2.294 (low red)

Good Luck !!

Lian Beng 140308

After breaking the long term downtrend support (low red) on 10 mar, Lian Beng tested tried to break above it on 12 mar but was unsuccessful.

(Please note that the volume is wrongly indicated)

The next day, Lian Beng broke the down trend support (mid pink --) again and is now trading within this channel (pink --).

If Lian Beng continues to trade within this channel (pink --), we might see it testing the 0.355 low on 21 aug, or even the 0.300 low on 17 aug.

For monday :

Support @ 0.355 (21 aug low), 0.3466 (low pink --)
Resistance @ 0.386 (mid pink --), 0.415 (low red), 0.423 (upp pink --), 0.450 (low pink)

Good Luck !!

Ferro China 140308

Ferro China almost tested the 1 feb low of 1.01 on 10 mar when it hit a low of 1.03 and touching the long term uptrend support (green).

(Please note that the volume is indicated wrongly)

If Ferro China can maintain is uptrend momentum (light blue), we might see it testing the 1.30 level again.

For monday :

Support @ 1.10 (low light blue, mid pink), 1.22 (mid light blue, upp pink), 1.266 (low pink --)
Resistance @ 1.03 (green), 1.00 (low pink)

Good Luck !!