Indofood Agri 220409

Did you follow my analysis for Indofood Agri on 9 apr? If you had, you would probably have caught Indofood Agri as it surged past the 0.770 resistance (pink ...), and tested the 0.860 resistance (green ...) on 15/16 apr.

Indofood Agri today again broke the 0.860 neckline (green ...) with volume, testing the 0.895 resistance (blue --) briefly before settling right on the 0.860 neckline again.

We could see Indofood Agri trade sideways again, as it did on the previous 3 occassions before surging up. If Indofood Agri can continue to trade within the uptrend channel (blue), we could see it test the 0.895 resistance (blue --), provided Indofood Agri also stays above the 0.860 support (green ...).

As you can see from the chart, the 0.875 could be the immediate resistance for Indofood Agri as it is where the long term downtrend resistance (upp red) meets the uptrend support (mid blue).


For tomorrow :

Support @ 0.860 (green ...), 0.835 (mid green), 0.830 (mid blue, low red), 0.815 (red ...), 0.795 (green --), 0.770 (pink --)

Resistance @ 0.875, 0.895 (blue --), 0.900 (upp red, upp green), 0.915 (upp blue), 0.925

Cosco 220409

After my analysis on 15 apr, Cosco went on to hit and exceeded the 11 dec high by 1 cent (1.17 vs 1.18). It seems that the chances of history repeating itself are increasing as Cosco went on to break the crucial 1.10 support on 20 apr.

If you look back to the dec period, after again breaking the 1.10 support, Cosco first traded sideways for about slightly more than 2 weeks, before collasping on 9 jan.

As you can see from the chart, the next crucial support for Cosco would be at 1.05 (lightblue --) where you can see quite a number of trendlines converging at that level. If this support breaks, we could see Cosco heading for the 0.995 (green ...) to 1.00 (blue --) level.

However, if Cosco can maintain at least above the 1.03 support (red --), we may see Cosco re-writing history.


For tomorrow :

Support @ 1.05 (mid blue, lightblue --), 1.04 (mid green, low red), 1.03 (red --), 1.00 (blue --), 0.995 (green ...), 0.965 (low pink, red ...)

Resistance @ 1.06 (mid pink), 1.08 (green --), 1.09 (mid red), 1.10 (blue ...), 1.1055 (upp blue), 1.11 (upp green), 1.12 (upp pink, pink --), 1.17 (upp red, lightblue ...)

China Hongx 220409

Today is the first time China Hongxing tested the 0.130 support (blue ...) since it broke out from it on 9 apr. As mentioned on 15 apr, the 0.145 (pink --) and 0.150 (pink ...) level saw the highest volume done that day, which is also evident on the volume distribution chart on the left.

What this could mean is that there are alot of stale bulls being caught, unless they've already squared off their positions when China Hongxing broke the 0.145 support yesterday.

As you can see fron the chart, the long term downtrend support (mid pink) meets the uptrend support (low blue) at the 0.130 support (blue ...). If this crucial support breaks, we could see China Hongxing re-visiting the 0.115 support (green --).

The other scenario could see China Hongxing trade sideways between the 0.130 support (blue ...) and 0.145 resistance (pink --) as it attempts to build a base.


For tomorrow :

Support @ 0.130 (blue ...), 0.125 (lightblue ...), 0.120 (red ...), 0.115 (green --), 0.110 (low pink)
Resistance @ 0.1375 (mid blue), 0.145 (pink --), 0.150 (pink ...), 0.1525 (upp blue, upp pink), 0.155 (blue --), 0.160 (red --)

Cosco 150409

After my analysis on 9 apr, Cosco blew away all the major resistance and closed right on the 1.12 neckline (pink --) today. Most of the trades were done at 1.04, with buy ups and sell downs split half. The 2nd most trades were done at 1.12, again, with ups and sell downs split half.

Cosco is coming close to testing the 1.17 high it hit on 11 dec 08. Prior to that high, Cosco was also on a similar surging run which saw it rocket from a low of 0.655 on 21 nov, to a high of 1.17 on 11 dec. That is a whopping 0.515 climb in 14 trading days !

Although Cosco's run now is quite similar, the difference is that it took Cosco almost twice the time this round.

Would we see history repeat itself?

For that to happen, Cosco would first have to break the crucial 1.10 support (blue ...).

However, if Cosco manages to stay above the 1.10 support, we could see it trade sideways between the uptrend channel (blue or green) as it attempts to build a base.

Anymore upside in the short term would probably be limited to the 1.17 high of 11 dec.


For tomorrow :

Support @ 1.10 (blue ...), 1.08 (mid pink, mid blue, mid green), 1.05 (low red, lightblue --), 1.03 (red --), 1.00 (blue --), 0.990 (green ...), 0.965 (red ...), 0.950 (green --)

Resistance @ 1.12 (pink --), 1.13 (upp red, upp blue, upp green), 1.15 (upp pink), 1.17 (lightblue ...)

China Hongx 150409

If you had followed my analysis on 09 apr, you would have been able to catch China Hongxing as it surged pass the 0.130 resistance (blue ...) yesterday. Volume done today (179m) was the highest since 23 mar (184m). A massive 419 trades with a total of 112,503 lots were done at the 0.150 level, with with more than 2/3 being buy ups. A total of 20,933 lots were done at 0.155, with all being buy ups.

Since China Hongxing has broken the price from where it plunged (0.135 on 24 feb), this has now become the support for China Hongxing, as indicated by the uptrend support (mid blue) and also the downtrend support (mid pink). The 0.150 could be the immediate support as almost half of the trades today were done at this level.

If China Hongxing manages to break the 0.155 resistance (blue --), there's still 2 more small resistances at the 0.160 (red --) and 0.165 (green --) levels. However, if these 2 resistance break as well, the next resistance could be seen at 0.180 (lightblue --).


For tomorrow :

Support @ 0.150 (upp blue), 0.145 (pink --), 0.137 (mid blue), 0.135 (mid pink), 0.130 (blue ...), 0.125 (lightblue ...), 0.120 (red ...), 0.118 (low blue, low pink)

Resistance @ 0.150 (upp blue), 0.153 (upp pink), 0.155 (blue --), 0.160 (red --), 0.165 (green --), 0.180 (lightblue --)

Straits Asia 090409

After breaking the 0.895 support (green --) and testing the crucial 0.865 support (blue ...) yesterday, Straits Asia managed to recover and even came close to test the 0.935 resistance (green ...). However, Straits Asia did not manage to close above the 0.915 resistance (blue --), which is quite formidable, based on the volume distribution bar.

If Straits Asia can maintain trading above the uptrend support (mid blue), we could see it trade sideways between the 0.935 resistance (green ...) and 0.895 support (green --) as it attempts to build a base.

If this happens, we could see some action towards the end of the week as the long term downtrend resistance (upp red) meets the uptrend support (mid blue) at the 0.910 resistance (blue --).

However, if Straits Asia breaks the 0.895 support (green --), we could see it test the 0.865 support (blue ...) again. And if the 0.865 support breaks as well, we could see Straits Asia revisit the 0.825 support (pink --) eventually.


For monday :

Support @ 0.895 (green --), 0.885 (mid blue, pink ...), 0.875 (red --), 0.865 (mid red, blue ...), 0.845 (red ...), 0.840 (low red), 0.825 (pink --)

Resistance @ 0.915 (blue --), 0.925 (upp blue), 0.935 (upp red), 0.940 (green ...), 0.975

Semb Marine 090409

After trading below the 2 uptrend supports (mid green, mid blue) yesterday, Sembcorp Marine recovered and even managed to close above the short-term uptrend resistance (upp blue). It also closed right on the 2.15 neckline (pink ...).

As you can see from the chart, the 2.15 neckline could prove a tough nut to crack. So we could see Sembcorp Marine trade sideways between the 2.04 support (blue ...) and 2.15 neckline (pink ...) as it builds a base.

If Sembcorp Marine can maintain trading within the short-term uptrend channel (blue), we could see it test the 2.15 neckline probably towards the end of the week.

If the 2.04 support breaks, we could see Sembcorp Marine revisit the 1.93 support (blue --), which is where the short-term uptrend support (low blue) meets the long term downtrend support (mid red).


For monday :

Support @ 2.15 (pink ...), 2.10 (mid blue), 2.07 (mid green), 2.04 (blue ...), 2.00 (red ...), 1.97 (mid red, red --), 1.93 (blue --), 1.90 (pink --), 1.87 (lightblue --), 1.86 (low blue, low red)

Resistance @ 2.15 (pink ...), 2.16 (upp blue, upp red), 2.17 (upp green), 2.25 (green ...), 2.35 (green --)

Raffles Education 090409

Raffles Education finally managed to close above 0.415 neckline (blue ...) after testing it a few times over the last few days. It even tested the 0.430 resistance (red ...) today.

Most trades (137 trades) were done at 0.425 (8,547 lots - with about 3/4 are buy ups). 2nd most trades (133 trades) done at 0.415 (with about 60% buy ups).

The 0.430 resistance could prove a little difficult to break as both the downtrend resistance (upp red) and uptrend resistance (mid blue) meets there. If Raffles Education manages to stay above the 0.415 support (blue ...), we could see it trade sideways between 0.415 and 0.430 as it attempts to build a base.

If the 0.415 support breaks, we could see Raffles Education re-test the 0.400 support (green --).

If Raffles Education breaks the 0.430 resistance (red ...), we might see it go all the way and test the 0.455 resistance (blue --).


For monday :

Support @ 0.415 (blue ...), 0.410 (lightblue ...), 0.405 (mid red), 0.400 (green --), 0.392 (low blue), 0.380 (low red, green ...)

Resistance @ 0.425 (mid blue), 0.430 (red ...), 0.432 (upp red), 0.440 (upp blue, red --), 0.455 (blue --)

Olam 090409

After breaking the 1.59 neckline (red --) and testing the 1.55 support (red ...) yesterday, Olam managed to recover and closed above the 1.59 neckline and short-term uptrend support (mid blue).

Olam has been on the uptrend since the beginning of march, bursting into life on 2 apr after trading sideways the week before that.

If Olam breaks the 1.59 support (red --), we could see it trading between the 1.53 support (blue ...) and 1.59 neckline (red --).

However, if Olam and stay above the 1.59 support, we could see it trading sideways also, but between the 1.59 support (red --) and 1.65 resistance (pink ...). And if Olam can trade within the uptrend channel (blue), we might even see it test the 1.65 resistance towards the end of the week.


For monday :

Support @ 1.59 (mid blue, red --), 1.57 (mid red), 1.56 (mid green), 1.55 (red ...), 1.53 (blue ...), 1.51 (low red), 1.48 (low blue, green --)

Resistance @ 1.61 (lightblue --), 1.62, 1.65 (pink ...), 1.67 (upp blue, blue --), 1.69 (upp green, upp red)

Noble Group 090409

The chart for Noble Group is a little bit colourful. Let's first look at the big picture.

The red trendlines indicate long term downtrend, the pink ones indicate short-term downtrend, the green indicates long term uptrend, and the blue ones indicate short-term uptrend.

Let's now take a closer look.

Noble Group was trading within a tight 3 cent range today, which was not quite its usual trading range. Almost 3/4 of its trades (455 trades) were done at the 1.24 level (12,004 lots - with almost the same amount of buy ups and sell downs, and 1 married deal of 1,400 lots).

After breaking the long term downtrend support (mid red) yesterday, Noble Group managed to recover today and traded above this support, and also tested the short-term uptrend resistance (mid blue) and short-term downtrend resistance (mid pink). However, it failed to break the 1.25 neckline (blue --) convincingly.

As you can see from the chart, 4 trendlines (low pink, low blue, mid green, mid red) converge at about the 1.215 level. So this could mean that the 1.22 / 1.21 support could be crucial. If this support breaks, we could see Noble Group re-testing the 1.20 support (blue ...), or even the 1.18 support (red --).

However, if Noble Group can continue to trade within the 2 uptrend channels, and stay above the 1.22 support (red ...), we could see it test the 1.25 neckline (blue --) soon, and maybe even the 1.27 resistance (green --). Any upside would probably be limited to the 1.31 resistance (green ...).


For monday :

Support @ 1.22 (low red, red ...), 1.216 (low pink), 1.21 (low blue, mid green), 1.20 (blue ...), 1.18 (red --)
Resistance @ 1.25 (mid pink, blue --), 1.27 (mid blue, green --), 1.287 (upp green), 1.31 (upp red, green ...), 1.32 (upp blue), 1.33 (upp pink)

Indofood Agri 090409

After breaking the 0.715 support (lightblue --) yesterday, Indofood Agri reversed and even broke the 0.740 resistance (pink --) with volume today. Most trades (146) were done at 0.760 (7,022 lots) with 2nd most trades (137) done at 0.745 (6,191 lots). Overall, there were more buy ups (21,409 lots) than sell downs (15,532 lots).

What this means is that we could be looking at 0.745 being the support and 0.760 being the resistance for Indofood Agri the time being.

If Indofood Agri can maintain trading within the uptrend channels (blue, green) and stay above the 0.740 support (pink --), there's a good chance we might see it test the 0.770 resistance (pink ...) again towards the end of the week when the uptrend support (mid blue) meets the 0.770 neckline (pink ...).

However, if the 0.740 support breaks, we could see Indofood Agri retreat back to the 0.715 support (lightblue --).


For monday :

Support @ 0.740 (pink --), 0.732 (mid green), 0.725 (mid blue), 0.715 (mid red, lightblue --), 0.685 (low red, red --)

Resistance @ 0.755 (upp blue), 0.770 (upp red, pink ...), 0.785 (upp green), 0.790 (green --), 0.815 (red ...)

Golden Agri 090409

Golden Agri broke the 0.310 (red ...) and 0.320 (green ...) resistances today, although with volume that was just a third more than yesterday's. Golden Agri is still trading within the uptrend channel (blue).

Golden Agri has been on the uptrend since the beginning of march, so we might see some profit taking next week. This could mean Golden Agri trading sideways between the 0.310 support (red ...) and 0.320 neckline (green ...).

We could also see Golden Agri consolidating around the 0.315 level as the uptrend support (mid blue) meets the long term downtrend resistance (upp red) sometime next week.


For monday :

Support @ 0.322 (upp red), 0.320 (green ...), 0.315, 0.310 (mid blue, red ...), 0.305 (red --), 0.302 (low red)
Resistance @ 0.330 (pink --), 0.335 (upp blue), 0.340 (blue --)

Cosco 090409

Cosco just about managed to stay within the 3 uptrend channels (blue, green and pink) today, after breaking the 3 uptrend supports (mid pink, mid green, and mid blue) yesterday. More importantly, Cosco managed to stay above the 0.950 support (green --).

However, both the uptrend supports (mid pink and mid green) meets the 0.950 support (green --) in the coming week so we could see the 0.950 support being severely tested. If this support breaks, we could see Cosco re-visiting the 0.930 support (lightblue ...), or even the crucial 0.910 support (blue ...). If the 0.910 support breaks as well, we could be looking at the uptrend reversing for Cosco.

Another possible scenario could see Cosco attempt to build a base by trading sideways between the 0.930 support (lightblue ...) and 0.965 resistance (red ...). Any upside would be limited to the 0.990 neckline (green ...) as most of the uptrend resistancesa well as the downtrend resistance (upp red), meet there too.

If Cosco manages to stay above the 0.930 or 0.950 supports, we could see it test the 0.990 neckline (green ...) soon.


For monday :

Support @ 0.950 (green --), 0.935 (mid pink, mid green, mid blue), 0.930 (lightblue ...), 0.910 (blue ...), 0.895 (low red), 0.880 (low pink, lightblue --)

Resistance @ 0.965 (red ...), 0.973 ( upp green), 0.990 (upp blue, upp pink, green ...), 1.00 (upp red, blue --), 1.03 (red --)

China Hongx 090409

The last time China Hongxing tested the 0.130 neckline (blue ...) was back in on 25 feb. Afterwhich, it went tumbling and hit a low of 0.060 on 12 mar. We could see some resistance at the 0.130 neckline for the coming week.

If China Hongxing can maintain trading within the uptrend channel (blue), we could see it test the 0.130 neckline again. Or it could trade sideways between 0.12o (red ...) and 0.130 as it attempts to build a base. Any break in the 0.130 resistance could see China Hongxing test the 0.145 neckline (pink --).


For monday :

Support @ 0.122 (mid blue), 0.120 (red ...), 0.115 (pink ...), 0.110 (lightblue --), 0.108 (low blue, low pink), 0.105 (green --)

Resistance @ 0.130 (blue ...), 0.135 (upp blue), 0.145 (pink --), 0.155 (blue --)

ST Engineering 270309

Ever since hitting a low 2.06 on 17 feb, ST Engrg has been climbing steadily, culminating in its testing of the 2.50 resistance (red ...) today.

We could be looking at ST Engrg trading sideways as it tries to build a base, similar to what it did at the beginning of the year. We could be looking trades between the 2.44 support (pink ...) and 2.50 resistance (red ...).

If ST Engrg can continue to trade within the uptrend channel (blue), we might see it consolidate at the 2.48 level, which is where the long term downtrend resistance (upp red) meets the short term uptrend support (mid green) sometime towards the end of next week.

However, if ST Engrg fails to break the 2.50 resistance by next week, we could see it revisit the 2.40 support (pink --), or even the 2.38 support (blue ...).


For monday :

Support @ 2.44 (low blue, pink ...), 2.43 (mid red), 2.42 (mid green), 2.40 (pink --), 2.39 (low red), 2.38 (blue ...), 2.36 (blue --)

Resistance @ 2.48 (red --), 2.50 (red ...), 2.506 (upp red, upp blue), 2.515 (upp green), 2.52, 2.54

Semb Marine 270309

A day after my analysis on 20 mar, Sembcorp Marine burst into life and went on a blistering run, breaking several key resistances along the way! It tested the key 1.93 resistance (blue ...) today but closed 1.90 neckline (pink --).

We could see Sembcorp Marine trade sideways due to inevitable profit-taking. We could see it trade between the 1.87 support (lightblue --) and 1.93 resistance (blue ...). We could also see Sembcorp Marine consolidate around the 1.87 level, which is where the long term downtrend resistance (upp red) meets the uptrend support (low blue) somewhere towards the end of next week.

If Sembcorp Marine can trade above the uptrend support (low blue), there's a good chance we might see it attempt to test and break the 1.93 resistance (blue ...).

However, if Sembcorp Marine breaks the 1.82 support (lightblue ...), we could see it revisit the 1.74 support (red ...), or even the 1.69 support (blue --).


For monday :

Support @ 1.90 (pink --), 1.87 (lightblue --), 1.84 (low blue), 1.82 (lightblue ...), 1.79 (mid red), 1.78 (red --), 1.77 (upp green), 1.74 (red ...), 1.69 (blue --)

Resistance @ 1.93 (upp red, blue ...), 1.94 (mid blue), 1.97 (upp blue)

Raffles Education 270309

What a week for Raffles Education! After my analysis on 20 mar, it went on to test the 0.430 resistance (red ...) and 0.440 resistance (red --) on 21 mar. Just 1 day later, it went from almost breaking the 0.440 resistance, to a free-fall, breaking the 0.415 support (blue ...).

The next few days even saw Raffles Education breaking the 0.395 support (blue --) with volume. The last 3 days saw Raffles Education hitting a base of 0.385, and just about keeping its head above the uptrend support (low blue), forming a Doji today.

One possible scenario is for Raffles Education to trade between the 0.380 support (green ...) and the 0.395 resistance (blue --), provided it doesn't break the 0.380 support.

However, if the 0.380 support breaks, we could be looking at Raffles Education heading towards the 0.370 support (lightblue --), and eventually, the 0.360 support (lightblue ...).

Any upside would most likely be restricted to the 0.400 resistance (green --).


For monday :

Support @ 0.385 (low blue), 0.380 (green ...), 0.3735 (low red), 0.370 (lightblue --), 0.360 (lightblue ...)
Resistance @ 0.395 (mid red, blue --), 0.400 (green --), 0.405, 0.415 (blue ...), 0.420 (mid blue), 0.430 (upp red, red ...)

Noble Group 270309

Is it a false break for Noble Group?

Noble Group initially broke the downtrend resistance (upp pink) and 1.27 neckline (green --), and also tested the uptrend resistance (upp blue). However, things took a dramatic twist after lunch and Noble Group reversed to test the 1.21 support (blue ...), closing just above the major supports.

As you can see from the chart, Noble Group just about maintained trading within the uptrend channel (blue). However, the 1.21 could be crucial for Noble Group as we can see that the long term downtrend support (low red), and uptrend support (low blue), meets there.

If the 1.21 support breaks, we may see Noble Group trying to hold its ground at the 1.20 level, where the long term downtrend support (low red) meets the downtrend support (mid pink).

If Noble Group can hold onto these 2 supports, we could see it try to establish a base by trading sideways between 1.20/1.21 and the 1.25 resistance (blue --). At most, Noble Group could test the 1.27 neckline (green --).


For monday :

Support @ 1.21 (low blue, low red, blue ...), 1.20 (mid pink), 1.18 (red --), 1.16 (upp green), 1.15 (low pink)
Resistance @ 1.23, 1.25 (upp pink, blue --), 1.27 (green --), 1.305 (upp red, upp blue)

Cosco 270309

After my analysis on 25 mar, Cosco broke through several key resistance and also tested the uptrend resistance (upp blue). However, Cosco couldn't build on the momentum and tested the 0.830 support (blue --) today, and also closed right on the 0.840 support (green ...).

Next week could be crucial for Cosco as we see whether it can break the 0.860 level convincingly. As you can see from the chart, the downtrend resistance (upp red) meets the 2 uptrend resistances (upp blue, upp green) at about the 0.860 level.

If Cosco does not break 0.860, we could see it test the 0.830 (blue --) and 0.820 (red --) supports.

If Cosco manages to clear 0.860, there's another formidable roadblock at the 0.870 level (pink --).


For monday :

Support @ 0.840 (green ...), 0.830 (blue --), 0.825 (mid green), 0.820 (red --), 0.815 (mid red, green --), 0.805 (lightblue ...)

Resistance @ 0.850 (red ...), 0.855 (upp green), 0.860 (upp blue, upp red), 0.870 (pink --)

Indofood Agri 250309

Indofood Agri opened right on the 0.615 support (blue --) before surging up to test the uptrend resistance (upp blue). Indofood Agri closed just below the 2 downtrend resistance (red, upp pink).

Could Indofood Agri be attempting to build another base? Just like it did a week ago?

For that to happen, it would need to stay at least above the 0.605 support (green ...). Then, we could see Indofood Agri trade between the 0.605 support and 0.640 resistance (blue ...).

However, if the 0.605 support breaks, we might see Indofood Agri falling back to the 0.580 support (pink ...) or 0.575 support (red ...).


For tomorrow :

Support @ 0.630 (mid blue), 0.620 (mid pink, blue --), 0.605 (green ...), 0.600 (low pink, low blue), 0.580 (pink ...), 0.575 (upp green, red ...)

Resistance @ 0.630 (red), 0.635 (upp pink), 0.640 (blue ...), 0.660 (upp blue)

Cosco 250309

Cosco just about stayed within the uptrend channel (green). Cosco also failed to convincingly break the 0.835 resistance (green ...) but managed to stay above the 0.805 support (lightblue ...).

This 0.805 support, as well as the 0.790 support (blue ...), would be crucial for Cosco if it wants to continue and maintain its uptrend momentum.

If these 2 supports break, we might see Cosco test the 0.755 support (green --).


For tomorrow:

Support @ 0.805 (mid green, lightblue ...), 0.790 (upp blue, blue ...), 0.780 (lightblue --), 0.765 (low red), 0.755 (green --)

Resistance @ 0.820 (red --), 0.830 (upp red), 0.835 (green ...), 0.845 (upp green), 0.870 (pink --)

Semb Marine 200309

Three days after my analysis on 13 mar, Sembcorp Marine tested the 1.55 resistance (red ...), although it just about stayed above the crucial 1.49 support (blue --) after testing it twice on the last 2 days.

We could see Sembcorp Marine trade between the 1.49 support (blue --) and 1.55 resistance (red ...) for the time being as it tries to build a base. If Sembcorp Marine can also continue to trade within the uptrend channel (green), we could see it attempt to break the 1.55 resistance sooner rather than later.


For monday :

Support @ 1.49 (mid red, mid green, blue --), 1.46 (pink ...), 1.45 (mid blue), 1.44 (low red), 1.41 (low green, red --)

Resistance @ 1.55 (red ...), 1.56 (upp green, upp red), 1.58 (upp blue), 1.59 (green ...), 1.61 (green --)

Olam 200309

After my analysis on 13 mar, Olam not only maintained its uptrend momentum, it also broke several resistance and tested the 1.41 neckline (pink --) thrice this week, closing right on the neckline today.

Will Olam continue to push higher and hit the 1.51 high of 12 feb?

If Olam cannot sustain this uptrend, we could be looking at a potential triple top forming, which means that the chances of Olam crashing (if the triple top completes) once it breaks the baseline support of 1.35 (lightblue --) is greatly increased.


For monday :

Support @ 1.39 (mid blue), 1.38 (red ...), 1.37 (mid green, pink ...), 1.35 (lightblue --), 1.33 (low red), 1.32 (blue ...), 1.30 (lightblue ...), 1.28 (red --)

Resistance @ 1.43 (upp green), 1.435 (upp red), 1.447 (upp blue), 1.48

Raffles Education 200309

Raffles Edu just about managed to stay above the 0.400 support (green --) today. However, volume was extremely low (about 1.7k lots), compared to a volume of 37.6m lots done on 10 mar, a day after Raffles Edu broke the 0.400 support.

As you can see from the chart, the 0.400 level is quite an important support for Raffles Edu. If it can hold on to this support, we could see Raffles Edu attempt to build a base and test the 0.430 resistance (red ...).

If Raffles Edu breaks the 0.400 support (green --), we could see it re-visit the 0.380 support (green ...).


For monday :

Support @ 0.405, 0.400 (mid blue, green --), 0.395 (mid red), 0.383 (low red), 0.380 (green ...), 0.370 (low blue, lightblue --)

Resistance @ 0.415 (blue ...), 0.420 (upp red), 0.425 (red ...), 0.435 (upp blue), 0.440 (red --)

Noble Group 200309

Are we looking at the beginning of another one of those surging runs of Noble Group?

Noble Group tested the 1.11 neckline (pink ...) today, as it broke and closed above the 1.08 resistance (pink --) for the 1st time since end feb.

As you can see from the chart, the lows of Noble Group continues to stay above the uptrend support (mid blue). We could see Noble Group trade between this support and the 1.11 neckline (pink ...) for the time being.

If Noble Group continues to trade within the uptrend channel, there's a great chance we might see it break the 1.11 neckline, maybe even by end of mar.


For monday :

Support @ 1.08 (pink --), 1.06 (mid blue), 1.05 (green ...), 1.03 (low blue, red ...), 1.02 (blue --)
Resistance @ 1.10 (red), 1.11 (pink ...), 1.115 (upp blue), 1.13

Indofood Agri 200309

As mentioned in my analysis on 13 mar, the 0.575 support (red ...) for Indofood Agri seems to be holding for the time being. However, this support was also tested 3 times this week.

Is Indofood Agri building a base?

If you look at Indofood Agri during the mid feb period, it also appears to be building a base as it traded sideways, before going on a free fall. Will history repeat itself?

If Indofood Agri can hold on to at least the 0.565 support (green --) we could see it continue to trade sideways between the long term downtrend resistance (red) and the 0.565 support (green --).

Be cautious also as a Gravestone Doji was formed on 18 mar, which usually is a strong indication of an impending trend reversal. A break in these 2 support could see Indofood Agri testing at least the 0.545 support (pink --)


For monday :

Support @ 0.575 (red ...), 0.572 (low blue, upp green), 0.565 (low pink, green --), 0.545 (mid green, pink --)
Resistance @ 0.595 (red), 0.600 (upp pink), 0.605 (upp blue, green ...), 0.615 (blue --)

Cosco 200309

Today is the first time in 5 days Cosco broke the 0.730 support (blue --). Cosco also tested the 0.715 support (red ...), the downtrend support (low red) and short term uptrend support (low green). However, Cosco managed to recover late into day to close above the 0.730 support.

It remains to be seen if Cosco can continue to stay above the 0.730 support as you can see the long term downtrend resistance (pink), meeting the 2 uptrend supports (mid blue, low green) at around the 0.723 level sometime next week.


For monday :

Support @ 0.730 (blue --), 0.717 (mid blue), 0.715 (low green, red ...), 0.705 (low red), 0.690 (pink --)
Resistance @ 0.745 (pink), 0.755 (green --), 0.760 (upp green), 0.765 (upp red), 0.780 (lightblue --)

Straits Asia 130309

Just a day after my analysis on 27 feb, Straits Asia broke the crucial support of 0.795 (green --). The following day (28 feb) saw Straits Asia hit the 0.740 support (blue ...), which was just above the baseline support of 0.730 which I've calculated for the triple top formation.

Straits Asia rebounded immediately after testing the 0.740 support, and has now recovered to trade above the 0.795 neckline (green --).

For today's analysis, I've added a short term uptrend channel (green) and short term downtrend channel (red).

If Straits Asia can continue to trade above the 0.795 support (green --), we could see it break out of the 2 downtrend channels and even test 0.845 resistance (red ...).


For monday :

Support @ 0.808 (mid blue), 0.795 (green --), 0.784 (low red), 0.780 (low green), 0.775 (pink ...)
Resistance 0.815 (upp pink), 0.820 (upp red), 0.825 (pink --), 0.830 (upp green), 0.845 (red ...)

Semb Marine 130309

After my last analysis on 27 feb, Smebcorp Marine broke the crucial 1.38 support (pink --), and traded sideways for about 2 weeks before coming to life today, closing above the other crucial neckline of 1.48 (blue --) with the highest volume since end feb.

As you can see from the chart, the 1.48 neckline (blue --) is very important for Sembcorp Marine as the downtrend resistance (upp red) meets the uptrend support mid blue). If it wants to sustain this positive momentum, Sembcorp Marine would have to continue to trade above the 1.48 neckline (blue --).

If Sembcorp Marine breaks the 1.48 neckline, we could see it sliding back to the 1.41 support (red --). However, if the support holds, we could see Sembcorp Marine test the 1.55 resistance (red ...) very soon.


For monday :

Support @ 1.48 (mid blue, blue --), 1.46 (pink ...), 1.44, 1.41 (red --), 1.38 (mid red, pink --)1.34 (low red)
Resistance @ 1.51 (upp red), 1.53 (upp blue), 1.55 (red ...), 1.59 (green ...) 1.61 (green --)

Olam 130309

After breaking the neckline (lightblue ...) for the double top formation on 17 feb, Olam recovered to test this neckline in last than a month, and closed right on the downtrend resistance (upp red).

The following week could be crucial for Olam as it remains to be seen if its uptrend momentum could be sustained. The first crucial level would be at 1.28, which is where the downtrend resistance (upp red) meets the uptrend support (low blue) and 1.28 neckline (red --).

If this support breaks, the next crucial support would be at 1.25 (green --). If Olam can trade above these 2 supports, there's a great chance we might see Olam test the 1.35 resistance (lightblue --).

However, if Olam breaks these 2 supports, we could then see it retreat back to the 1.15 support (blue --).


For monday :

Support @ 1.30 (upp red, lightblue ...), 1.28 (low blue, red --), 1.25 (green --), 1.22 (mid red, upp green, pink --), 1.17 (low red, pink ...), 1.15 (blue --), 1.14 (low green), 1.13 (green ...)

Resistance @ 1.32 (blue ...), 1.34 (upp blue), 1.35 (lightblue --), 1.38, 1.41

Noble Group 130309

Noble Group indeed tested the 0.995 support (blue ...) the day after my analysis on 11 mar. It then recovered to test the 1.05 resistance (green ...) today. Noble Group has been trading sideways since end feb and is still in the uptrend channel (blue).

Will we see Noble Group bursting into life like it did in mid Jan ?

As you can see from the chart, the downtrend resistance (upp red), meets the uptrend support (low blue) at the 1.025 level sometime next week. Which means we could see some action for Noble Group soon.

If Noble Group doesn't break the 0.995 support (blue ...) by then, there's a great chance we could see a repeat of the surging run in mid jan.

However, if the 0.995 support breaks, we could see Noble Group fall as dramatically, which isn't unusual for Noble Group.


For monday :

Support @ 1.03 (red ...), 1.02 (blue --), 1.00 (low blue), 0.995 (blue ...), 0.965 (mid red, green --), 0.935 (red --)
Resistance @ 1.05 (green ...), 1.06 (upp red), 1.08 (pink --), 1.10 (upp blue), 1.11 (pink ...)

Indofood Agri 130309

What a run for Indofood Agri ever since hitting a low of 0.450 on 3 mar. However, I feel that Indofood Agri's great run has hit its peak as volume is drying up.

If you can read my analysis on 10 mar, I added a short term downtrend channel (pink) and Indofood Agri hit the short term downtrend resistance (upp pink) before closing just below it. This could also be an indication that the trend for Indofood Agri is turning.

Immediate support for Indofood Agri would be the 0.575 support (red ...). If Indofood Agri can hold onto this support, we could see it build a base and attempt to test the 0.605 resistance (green ...).

However, if Indofood Agri breaks the 0.575 support (red ...), I believe its drop would be as swift as it did in the 2nd half of feb.


For monday :

Support @ 0.575 (red ...), 0.5677 (mid pink, mid green), 0.565 (green --), 0.560 (mid blue), 0.548 (low red), 0.545 (pink --), 0.535 (lightblue --), 0.525 (low blue, red --), 0.520 (low pink), 0.505 (pink ...)

Resistance @ 0.595 (upp red, upp pink), 0.605 (upp blue, upp green, green ...), 0.615 (blue --), 0.640 (blue ...)

Cosco 130309

Cosco initially opened below the long term downtrend resistance (upp pink), but that soon changed as Cosco surged past several necklines to test the 0.775 neckline (lightblue --) with the highest volume in a month.

As Cosco did not break the short term downtrend resistance (upp red), it remains to be seen if Cosco can maintain its momentum.

We could see Cosco trading between the 0.730 support (blue --) and 0.775 neckline (lightblue --) as it tries to build a base.


For monday :

Support @ 0.755 (green --), 0.735 (mid blue), 0.730 (blue --), 0.710 (red ...), 0.705 (mid red), 0.695 (upp pink)
Resistance @ 0.765 (upp red), 0.775 (lightblue --), 0.785 (upp blue), 0.790 (blue ...), 0.805, 0.820 (red --)

China Hongx 130309

Although China Hongxing broke out from the short term downtrend resistance (upp red), it is still way below the level it was trading just a month ago.

The 0.065 level (red --) could be the support for China Hongxing for the time being as it tries to build a base.

The immediate resistance could be seen at the 0.09 neckline (blue --). We could be looking at China Hongxing trading between the 0.065 support (red --) and 0.08 neckline (lightblue --).


For monday:

Support @ 0.070 (upp red, red ...), 0.065 (mid pink, red --), 0.05 (low pink), 0.045 (low red)
Resistance @ 0.080 (lightblue --), 0.090 (upp pink, blue --), 0.105 (green --)

Noble Group 110309

Noble Group today broke the uptrend support (low blue). It also came very close to testing the 0.995 support (blue ...).

We could be looking at Noble Group testing the 0.995 support (blue ...) soon.


For tomorrow:

Support @ 0.995 (blue ...), 0.980 (mid red), 0.965 (green --), 0.935 (red --), 0.915 (low red)
Resistance @ 1.02 (low blue, blue --), 1.03 (red ...), 1.05 (green ...), 1.075 (upp red), 1.08 (pink --)

Indofood Agri 100309

Indofood Agri burst into life today with volume that was more than 4 times yesterday's. Buy ups outnumbered selldowns by about 2 to 1. Indofood Agri also broke the long term downtrend resistance (upp red) and the 0.525 neckline (red --).

I have included a short term downtrend channel (pink). As you can see Indofood Agri tested the 0.545 neckline (pink --) today, which was not far from where the downtrend resistance (mid pink) is.

If Indofood Agri manages to trade above the 0.525 neckline (red --), we could see it test the 0.565 neckline (green --) soon.


For tomorrow :

Support @ 0.545 (pink --), 0.535 (upp green), 0.525 (low pink, red --), .511 (upp red), 0.507 (mid green), 0505 (pink ...), 0.495 (green ...)

Resistance @ 0.545 (pink --), 0.558 (mid pink), 0.565 (green --), 0.575 (red ...)

Cosco 090309

Cosco continues to trade within the long term (pink) and short term (red) downtrend channels. Although Cosco opened above the 0.715 support (red ...), it soon succumbed to selling pressure and closed below the 0.715 support.

Quite a lot of people could be caught when Cosco surged on 5 mar. However, since it closed that day on a low, it would have been a signal that the uptrend momentum may not be sustainable. The Doji on the following day (6 mar) would give you an idea to be prepared to cut loss.

If Cosco continues to remain weak, we could see it test 0.670 (pink --) again, which was the low on 3 mar. If that support breaks as well, we could see Cosco head towards the 0.655 level, which is where the 2 downtrend supports meet.


For tomorrow :

Support @ 0.690 (mid blue), 0.680 (low pink), 0.675 (low blue), 0.670 (low red, pink --)
Resistance @ 0.710 (upp blue), 0.715 (red ...), 0.730 (mid red, blue --), 0.745 (upp pink), 0.755 (green --)

Indofood Agri 060309

Indofood Agri's fortunes took a dramatic twist within a few days. We were just talking about a possible trend reversal on 3 mar, and now Indofood Agri is trading below the 0.525 neckline (red --) again. Volume done today is not even half of yesterday's.

The 0.505 support (pink ...) again seems to be holding out quite well for the time being. We could be looking at Indofood Agri trading between the downtrend resistance (upp red) and uptrend support (mid green).

We could see some action next week as the downtrend resistance (upp red) meets the uptrend support (mid green) at about the 0.495 neckline (green ...). If the 0.495 neckline breaks, we could see Indofood Agri make a swift visit to the 0.470 support (lightblue --).


For monday :

Support @ 0.505 (pink ...), 0.495 (mid green, green ...), 0.480 (mid red), 0.470 (lightblue --), 0.460 (blue ...), 0.455 (low green), 0.440 (low red)

Resistance @ 0.515 (upp red), 0.525 (upp green, red --), 0.545 (pink --), 0.555, 0.565 (green --)

Cosco 060309

Cosco had a false breakout on 5 mar as it broke the 1st downtrend resistance (mid red) and tested the 0.755 (green --) and 0.775 (lightblue --) necklines. The uptrend momentum couldn't be sustained and Cosco traded below the 0.730 neckline (blue --) today, forming a Doji.

If Cosco breaks the uptrend support (mid blue), there's a danger it could slip back into the long term downtrend channel (pink). The 0.715 supports looks to be a critical support as the uptrend support (mid blue) meets the downtrend resistance (mid red) at this level sometime next week.

We could be looking at Cosco trading sideways between the 0.730 neckline (blue --) and uptrend support (mid blue). And if Cosco manages to trade above the uptrend support (mid blue), there's a good chance we might see some action next week.

If Cosco breaks the uptrend support, we would likely see a swift return to test the 0.670 support (pink --).


For monday :

Support @ 0.715 (red ...), 0.710 (mid blue), 0.690 (upp pink), 0.680 (low red), 0.670 (low blue, pink --)
Resistance @ 0.730 (blue --), 0.740 (mid red), 0.745 (upp blue), 0.755 (green --), 0.775 (lightblue --)

Indofood Agri 030309

Indofood Agri opened low and closed high, almost engulfing yesterday. In candlestick, it's called Bullish Engulfing. Since Indofood Agri has been on the downtrend, this could signal an impending trend reversal.

In order to confirm the trend reversal, we would need a white candlestick tomorrow. Ideally, Indofood Agri gapping up and closing higher. This would give us another bullish pattern called the Three Outside Up, which is a stronger indicator of a trend reversal compared to the Bullish Engulfing.


For tomorrow :

Support @ 0.495 (green ...), 0.490 (mid green), 0.470 (lightblue --), 0.460 (low red, blue ...), 0.450 (low green)

Resistance @ 0.505 (pink ...), 0.510 (upp green), 0.525 (red --), 0.535 (upp red), 0.545 (pink --), 0.565 (green --)

Cosco 030309

Cosco opened right on the 0.670 support (pink --) today. Although Cosco rebounded today to close above the downtrend support (low red), volume was lesser than yesterday's, so we might be looking at a technical rebound.

If Cosco manages to stay above the downtrend support (low red), we could see it trading between this support and the 0.720 neckline (red ...).

Another scenario could see Cosco trading between the downtrend support and 0.670 support (pink --), which I believe could be most likely.

As you can see from the chart, the 0.670 support is very important as 3 trendlines converge together with the volume support (pink --). So, if the 0.670 breaks, we could see Cosco test the 28 oct low of 60.5 cents at least.


For tomorrow :

Support @ 0.700 (low red), 0.680, 0.670 (blue, pink --), 0.643 (low pink)
Resistance @ 0.720 (red ...), 0.730 (upp pink), 0.735 (mid red), 0.755 (green --), 0.775 (lightblue --)

Straits Asia 270209

Straits Asia formed a triple top on 10 dec, 7 jan and 2 feb. The neckline support for this triple top formation is about 0.865 (red --), which would give us a baseline support for the triple top formation at 73 cents, just below the 0.740 support (blue ...). which Straits Asia almost tested on 23 feb.

However, there was a strong rebound the day after (24 feb) and we saw Straits Asia closing above the 0.820 resistance (pink --). There wasn't any momentum and 2 days later, which is today, we saw Straits Asia closing below the 0.820 level.

We might see Straits Asia trading between the 0.795 support (green --) and 0.820 resistance (pink --) for the time being.

What would be more crucial is if Straits Asia breaks the 0.795 support, as well as the 0.785 level (where 3 trendlines converge), it could mean a drop at least to the 0.740 support (blue ...).


For monday :

Support @ 0.795 (green --), 0.785 (pink ...), 0.775 (low blue), 0.750 (low pink), 0.740 (blue ...)
Resistance @ 0.820 (pink --), 0.825 (upp pink, upp blue), 0.845 (red ...), 0.865 (red --), 0.900 (blue --)

Golden Agri 270209

Golden Agri formed a double top on 7 jan and 9 feb. I'll put the neckline support for this double top at 0.295 (pink ...), which means the baseline support for the double top is at around (red --).

Golden Agri has been trading sideways since mid feb and has also tested the 0.275 support (green ...) thrice.

As you can see from the chart, the longterm downtrend resistance (upp red) meets the uptrend support (low blue) at the 0.280 level sometime next week. So we might expect some action for Golden Agri early next week.

If this support breaks, I feel we might see Golden Agri revisiting 0.260, which is the 15 jan low.


For monday :

Support @ 0.285 (upp red, green --), 0.278 (low blue), 0.275 (green ...), 0.255 (low red, red --)
Resistance @ 0.285 (upp red, green --), 0.293 (mid blue), 0.295 (pink ...), 0.305 (pink --), 0.307 (upp blue)

Semb Marine 270209

Sembcorp Marine failed to break the 1.48 resistance (blue --) and even closed below the 1.41 support (red --).

As you can see from the chart, the uptrend support (low blue) meets the downtrend resistance (upp red) at 1.38, which is the opening/closing price on 24 feb. If Sembcorp Marine breaks below this level, we could see it retest Oct 08 lows.


For monday :

Support @ 1.37 (low blue), 1.33 (mid red), 1.24 (low red)
Resistance @ 1.44 (upp red), 1.48 (blue --), 1.535 (upp blue), 1.55 (red ...)

Olam 270209

I have said on 25 feb that we might see a bit of rebound for Olam when it hits the 1.17 support (pink ...). Olam opened at 1.21 on 26 feb, tested the 1.17 support before closing again at 1.21. Olam opened right on the 1.17 support today before recovering to close above the 1.22 resistance (pink --). If you had traded within this range, you would have made some kopi money, congrats.

However, it is still too early to say if Olam's fortunes have turned as it has yet to test the double top neckline of 1.30 (lightblue ...). Olam might also meet some strong resistance at the 1.25/1.26 levels.

Nonetheless, if Olam continues to trade within the uptrend channel (blue), it's also an opportunity to make some kopi money.


For monday :

Support @ 1.22 (pink --), 1.20, 1.17 (low blue, pink ...), 1.15 (blue --), 1.12 (low red)
Resistance @ 1.25 (upp blue, green --), 1.27 (mid red), 1.28 (red --), 1.30 (lightblue ...), 1.32

Noble Group 270209

Action for Noble group came earlier than expected when it broke the 1.08 resistance (pink --) on 26 feb. Volume done on that day was almost double the previous day's. However, Noble Group has yet to test the uptrend resistance (mid blue).

Moreover, there wasn't much momentum for Noble Group today as it opened above the 1.08 neckline and closed right on it. Most trades were done at the 1.07/1.08 prices with just slightly more being selldowns.

Interestingly, while about 20m were done in about 700 trades in the 1.07/1.08 price range, only 13 trades were done in the 1.09 price, amounting to almost 4m shares, and none were selldowns.

The 1.04 support remains crucial for Noble Group. If it can maintain trading above this support, as well as the downtrend support (mid red), we could see Noble Group attempt to test the uptrend resistance (mid blue) and downtrend resistance (upp red) soon.

If the 1.04 support breaks, we could see Noble Group re-visit the 0.995 support, the downs of Noble Group is usually swift.


For monday:

Support @ 1.05 (mid red), 1.04 (green --), 1.03 (low blue), 1.02 (red ...), 0.995 (blue ...), 0.965 (green --), 0.945 (low red)

Resistance @ 1.11 (mid blue), 1.14 (upp red), 1.17 (upp blue), 1.18 (blue --)

Cosco 270209

Two days after my analysis (24 feb) on Cosco, it went on to test the 0.755 support (green --). If you had followed my blog, you'd have made some money shorting Cosco. And if you had waited just 2 more days (which is today), you'd have made even more as Cosco closed right on the 0.720 support (red ...).

Cosco continues to trade within the 2 downtrend channels (pink, red). If Cosco breaks the 0.720 support (red ...) we could see Cosco head towards the 0.670 level (pink --), which is where the long term downtrend resistance (upp pink) meets the downtrend support (low red). And this level is also where Cosco formed the double bottom back oct and nov last year.

Near term support looks to be at around 0.700 (low red).


For monday:

Support @ 0.711 (mid red), 0.695 (low red), 0.670 (low pink, pink --)
Resistance @ 0.755 (upp pink, green --), 0.775 (lightblue --), 0.790 (blue ...), 0.815 (red --)

China Hongx 270209

Third time China Hongxing tested the 0.105 level (green --) since 24 feb. Volume has also been decreasing since. Most of the trades were done at the 0.110 level (46m with 20m selldown and 26m buying up).

We could be looking at China Hongxing trading between the 0.105 support (green --) and 0.115 resistance (pink ...) for the near term. It could be some time before we see can see any chance of a recovery for China Hongxing.


For monday:

Support @ 0.105 (green --), 0.100 (upp red), 0.085 (mid red)
Resistance @ 0.115 (pink ...), 0.130 (low pink), 0.145 (pink --), 0.160 (upp pink, blue ...)

Semb Marine 250209

Sembcorp Marine broke out from the downtrend resistance (upp red) with volume today. It ran smacked into the 1.48 resistance (blue --) before closing at 1.46, which coincidentally is the opening price on 18 and 20 feb.

If Sembcorp Marine manages to break the 1.48 resistance (blue --), we could see it 1.55 neckline (red ...). A bigger resistance looms at 1.61 (green --).


For tomorrow :

Support @ 1.41 (upp red, red --), 1.36 (low blue), 1.26 (low red)
Resistance @ 1.48 (blue --), 1.52 (upp blue), 1.55 (red ...), 1.61 (green --),