Cosco 280109

Other than testing the 0.765 support (lightblue --) on 23 jan, Cosco has been trading sideways (accumulation?) for the last 2 weeks. It also seems to have difficulty breaking the 0.815 resistance (red --).

We could see some action later this week or early next week, when the downtrend resistance (upp red) meets the uptrend support (low blue) at the 0.790 neckline (blue ...).

If Cosco does not break out by then, we could see it re-testing the 0.730 support (green ...) at least. If Cosco does break out, we could see it testing the 0.845 resistance (lightblue ...)


For tomorrow :

Support @ 0.790 (blue ...), 0.775 (low blue), 0.765 (lightblue --), 0.730 (green ...), 0.715 (low red)
Resistance @ 0.815 (red --), 0.835 (mid blue), 0.845 (upp red, lightblue ...), 0.875 (blue --)

China Hongx 280109

After trading sideways between 0.190 and 0.180 for the last few days, we saw China Hongxing forming a Gravestone Doji on 23 jan. Usually, a Gravestone Doji indicates a trend reversal, and since the prior trend was down, we could be looking at a small rebound.

Any uptrend could be limited by the uptrend resistance (upp blue) and the 0.200 neckline (blue --), which is also where the downtrend resistance (upp pink) meets. However, the 0.190 barrier (lightblue --) looks to be quite a formidable one.


For tomorrow :

Support @ 0.185 (red ...), 0.182 (low blue), 0.180 (lightblue ...)
Resistance @ 0.190 (lightblue --), 0.195 (red --), 0.200 (upp blue, blue --), 0.205 (upp pink, green --)

Indofood Agri 190109

Indofood Agri just about stayed above the 0.565 support (green --) after testing it three times.

As you can see from the chart, the uptrend support (low green) meets the 0.575 neckline (red ...) sometime this week, so we might see some action soon.

If Indofood Agri breaks the uptrend support (low green), we might see it test the 0.545 support (pink --).


For tomorrow :

Support @ 0.575 (red ...), 0.570 (low green), 0.565 (green --), 0.545 (pink --), 0.525 (low red, red --)
Resistance @ 0.595 (upp green, blue --), 0.605 (upp red), 0.610 (green ...)

Cosco 190109

Cosco seems to have found temporary support at the 0.790 level (blue ...), trading between this support and the 0.845 resistance (lightblue ...). Cosco also tested the 0.845 resistance thrice without any success in breaking it.

We could continue to see Cosco trading sideways between the 0.790 support and 0.845 resistance for the time being.

If the 0.790 support breaks, we could see Cosco testing the 0.765 support (lightblue --), which is also where the downtrend resistance (mid red) meets the uptrend support (low blue). If the 0.765 support breaks, next support looks to be at 0.730 (green ...).


For tomorrow :

Support @ 0.825 (mid blue), 0.815 (red --), 0.790 (blue ...), 0.785 (mid red), 0.765 (low blue, lightblue --)
Resistance @ 0.845 (lightblue ...), 0.875 (upp blue, blue --), 0.900

China Hongx 190109

China Hongxing continues to trade within the downtrend channel (pink). Although China Hongxing tested the 0.200 resistance (blue --) and uptrend resistance (mid blue), there wasn't enough buying momentum and it closed on the 0.190 support (lightblue --) for the third time. Volume done was only about 20% of yesterday's.

If China Hongxing can maintain trading within the uptrend channel (blue), we could see it trade sideways between the 0.190 support (lightblue --) and 0.200 resistance (blue --) for the time being.

However, if the 0.190 support breaks, we could see China Hongxing test the 0.180 support (lightblue ...).


For tomorrow :

Support @ 0.190 (lightblue --), 0.185 (low pink, red ...), 0.180 (lightblue ...), 0.175
Resistance @ 0.192 (low blue), 0.195 (red --), 0.200 (mid blue, blue --), 0.205 (green --)

Olam 130109

Olam was one of the rare few that was positive today. After opening below the 2 support trendlines (low blue, low red) and 1.25 support (green --), it even went on to test the 1.30 resistance (lightblue ...).

If Olam can stay within the uptrend channel (blue), we could see it attempt to break the 1.30 resistance soon.


For tomorrow :

Support @ 1.26 (low blue), 1.25 (green --), 1.24 (low red), 1.22 (pink --), 1.17 (pink ...)
Resistance @ 1.30 (lightblue ...), 1.36 (lightblue --), 1.38 (upp blue), 1.40 (green ...)

Noble Group 130109

Noble Group today broke the 1.08 support (pink --), downtrend support (mid red), the 1.04 support (green ...), and closed right on the 1.00 support (blue ...). Selling downs outnumbered buying ups almost 2:1.

If you look at the chart, the warning sign for a trend reversal showed up yesterday in the form of a Doji, and after Noble Group failed to clear yesterday's opening/closing price of 1.11 today, we saw it breaking down with volume.

We could be looking at Noble Group testing the 0.935 support (red --) if the 1.00 psychological support (blue ...) is broken. If the 0.935 support breaks as well, we could be looking at 0.860 (pink ...) as the next support.


For tomorrow :

Support @ 1.00 (blue ...), 0.965 (green --), 0.950 (low red), 0.935 (red --), 0.900, 0.860 (pink ...)
Resistnace @ 1.04 (green ...), 1.05 (mid red), 1.08 (low blue, pink --), 1.11, 1.14

Indofood Agri 130109

Indofood Agri broke quite a few supports today with about 3 times the volume compared to yesterday. The selling down volume was double that of buying up. Indofood Agri closed right on the 0.575 support (red ...).

If Indofood Agri breaks the 0.575 support, we could see it weaken further, probably to the 0.550 level, where the uptrend support (low green) meets the downtrend support (low red).

Any upside would probably be limited to the 0.595 resistance (blue --).


For tomorrow :

Support @ 0.575 (upp green, red ...), 0.565 (green --), 0.550 (low green, low red), 0.545 (pink --), 0.525 (red --), 0.505 (blue ...)

Resistance @ 0.595 (low blue, blue --), 0.610 (green ...), 0.625 (upp blue, pink ...), 0.635 (upp red)

Cosco 130109

The 0.790 support (blue ...) seems to be holding quite well for Cosco for the time being. However, Cosco closed below the 0.815 neckline (red --). And as you can see from the chart, this neckline can prove hard to overcome as quite a lot of people are trapped (based on the volume distribution bar).

So, if Cosco doesn't break the 0.815 neckline soon, we could see it softening further, at least to the 0.765 support (lightblue --), which is also where the downtrend resistance (mid red) meets the uptrend support (low blue).


For tomorrow :

Support @ 0.790 (blue ...), 0.765 (lightblue --), 0.750 (low blue), 0.735 (low red), 0.730 (green ...)
Resistance @ 0.815 (red --), 0.845 (mid red, lightblue ...), 0.860 (upp blue), 0.875 (blue --)

China Hongx 130109

After breaking the 0.205 support (green --) yesterday, China Hongxing continues to trade within the downtrend channel (pink), and also broke the 0.200 support (blue --) today, closing on the 0.195 support (red --).

As you can see from the chart, we could see China Hongxing hitting the 0.190 support (lightblue --), which is also where the downtrend support (low pink) meets the uptrend support (low blue).


For tomorrow :

Support @ 0.192 (low pink), 0.190 (low blue, lightblue --), 0.185 (red ...), 0.180 (lightblue ...)
Resistance @ 0.198 (mid blue), 0.200 (blue --), 0.205 (green --), 0.208 (upp blue), 0.210 (blue ...)

Noble Group 070109

A quick analysis on Noble Group.

Broke 1.08 resistance (pink --) on 5 jan with volume and tested the 1.18 neckline (blue --).

the 1.25 neckline (red ...) looks resilient. However, if Noble Group manages to break that, we could see it testing the 1.33 resistance (pink ...).

Don't forget that Noble Group is one of the most volatile counters.


For tomorrow :

Support @ 1.18 (blue --), 1.15 (mid blue, mid red), 1.08 (low red, pink --), 1.04 (low blue, green ...)
Resistance @ 1.25 (upp red, red ...), 1.28 (upp blue), 1.33 (pink ...)

Indofood Agri 070109

After breaking the 0.575 resistance (red ...) on 5 jan, Indofood Agri tested the 0.640 resistance (green --) 3 times. However, Indofood Agri couldn't break it convincingly and came close to testing the 0.610 support (green ...) today.

We could see the 0.660 level (upp red cuting upp blue) being the resistance for Indofood Agri for the time being. If Indofood Agri manages to break that resistance, we could see it testing the 0.715 - 0.720 level, which is the low from which Indofood Agri broke out from on 19 sep.

However, if Indofood Agri breaks the 0.610 support, we could see it revisiting the 0.575 support (red ...)


For tomorrow :

Support @ 0.610 (green ...), 0.605 (mid blue), 0.595 (blue --), 0.575 (red ...), 0.545 (low red, pink --)
Resistance @ 0.640 (green --), 0.655 (pink, upp blue), 0.663 (upp red), 0.715-0.720

Cosco 060109

Cosco continues to trade within the uptrend channel (blue), almost testing the 0.930 support (pink --) today. Cosco also broke the 1st uptrend resistance (mid blue) with volume, testing the 1.03 resistance (green ...), before closing right on the 1.00 neckline (red ...).

Where is Cosco heading?

Frankly speaking, it isn't too clear. Volume done today peaked at 62m over the last 5 days of trading, with no one particular price level having exceptionally large volume done. What I can see from the chart is that if Cosco manages to break the 1.00 neckline (red ...) convincingly, we could see it heading at least to the 1.10 neckline (lightblue --).

However, if Cosco fails to break the 1.00 neckline this week, we could see it retracing back at least to the 0.950 level, where the uptrend support (low blue) meets the downtrend resistance (upp red), or back to the 0.930 support (pink --). And if the 0.930 support breaks, it'll be back to the 0.870 support (blue --).


For tomorrow :

Support @ 1.00 (mid blue, red ...), 0.975 (upp red, green --), 0.950, 0.930 (low blue, pink --), 0.870 (blue --)
Resistance @ 1.00 (mid blue, red ...), 1.03 (green ...), 1.06, 1.10 (lightblue --)

China Hongx 060109

China Hongxing broke the 1st uptrend resistance (mid blue) yesterday with volume, and tested the 0.215 resistance (blue ...). It just about continued its uptrend today by breaking the 2nd uptrend resistance (upp blue).

Volume today was about 62m (3/4 of yesterday's) with about 41.8m done at 0.205. It remains to be seen if this uptrend could be sustained, or would it be just like what happened on 9 dec - where China Hongxing's 'rally' was over in just about 3 days.

Any upside could be limited to the 0.230 resistance (red --), which was the high reached on 10 and 11 dec,before China Hongxing went sliding down to a low of 0.180 on 23 dec. The 0.205 support (green --) looks good for the time being.


For tomorrow :

Support @ 0.219 (upp blue), 0.217 (upp pink), 0.215 (blue ...), 0.210, 0.205 (green --), 0.200 (blue --), 0.196 (low pink), 0.190 (lightblue --)

Resistance @ 0.225 (pink --), 0.230 (red --), 0.235, 0.245 (pink ...)

Olam 020109

Since 9 dec, Olam has been trading more or less sideways (other than the surge on 22 dec), between the 1.13 support (red ...) and 1.22 resistance (pink --). However, volume has been very low since christmas.

We could see some action for Olam in the middle of next week when the downtrend resistance (upp red), meets the uptrend support (low blue) at around the 1.18 level.

Any break in the 1.13 support could see Olam revisiting the 1.06 support (blue ...).


For monday :

Support @ 1.19 (upp red), 1.17 (pink ...), 1.16 (low blue), 1.15 (blue --), 1.13 (red ...), 1.09 (red --), 1.08 (low red)

Resistance @ 1.22 (pink --), 1.227 (upp blue), 1.25 (green --), 1.30 (lightblue ...)

Noble Group 020109

The 1.08 resistance (pink --) for Noble Group seems like a tough nut to crack. Noble Group tested it 5 times in dec but failed to break it. Would we see Noble Group breaking it successfully in 2009?

Noble Group continues to trade within the uptrend channel (blue), with the 0.935 support (red --) looking resilient as Noble Group last tested it before christmas. However, volume continues to be thin so we should be cautious of any upswing.

If Noble Group fails to break the 1.08 resistane (pink --), we could see it first retracing back to the 0.995 support (blue ...). Or we could continue to see Noble Group trade sideways between the 1.08 resistance and 1.04 support (green ...).

We could see some action for Noble Group towards the end of next week when the downtrend resistance meets the uptrend support (low blue) at around the 1.035 level.


For monday :

Support @ 1.04 (green ...), 1.00 (low blue), 0.995 (blue ...), 0.972 (low red), 0.965 (green --), 0.935 (red --)
Resistance @ 1.06 (upp red), 1.08 (pink --), 1.09 (upp blue), 1.13/1.14

Indofood Agri 020109

After dipping to a low of 0.485 before christmas, Indofood Agri recovered its losses and managed to break the 0.525 resistance (red --) on 30 dec. Indofood Agri opened the new year by breaking the 0.545 resistance (pink --) and almost testing the 0.575 resistance (red ...). However, volume hasn't exactly been alot - 17.6m done on 2 jan.

If Indofood Agri fails to break the 0.575 resistance (red ...), we could see it forming a double-top, and the retracement could be back to the 0.490 support (pink ...).

However, if Indofood Agri manages to hold above the 0.545 neckline (pink --), any break in the 0.575 resistance could see Indofood Agri testing the 0.610 resistance (green ...).


For monday :

Support @ 0.560 (mid blue), 0.555 (pink), 0.545 (pink --), 0.525 (red --), 0.515 (low blue), 0.505 (blue ...)
Resistance @ 0.565 (upp red), 0.575 (red ...), 0.590 (upp blue), 0.595 (blue --), 0.610 (green ...)

Cosco 020109

After breaking the 1.00 resistance (red ...) on 30 dec, Cosco quickly reversed and lost all its gain the next day. Cosco even opened the new year with a break in the 0.930 support (pink --).

If Cosco fails to stay above the 0.930 neckline (pink --), we could see it weakening further, breaking the uptrend support (low blue), and even testing the 0.870 support (blue --).

Another scenario could see Cosco trading sideways between the 0.930 neckline and 0.975 resistance (green --). Any upside would probably be limited to the 0.990 level, where the downtrend resistance (upp red) meets the uptrend resistance (upp blue).


For monday :

Support @ 0.910 (low blue), 0.870 (blue --), 0.845 (lightblue ...), 0.835 (low red), 0.815 (red --)
Resistance @ 0.930 (pink --), 0.975 (green --), 0.980 upp blue), 1.00 (upp red, red ...)

China Hongx 020109

China Hongxing started off the new year right on the 0.185 support (red ...) before breaking the downtrend resistance (upp pink) and closing on the 0.200 resistance (blue --).

However, I wouldn't place too much hope of a break out as volume done was still relatively low - 15.4m done with about half done at 0.195.

As you can see from the chart, ,the 0.185 support (red ...) looks quite good, although volume has been quite low for the past week.

We could see China Hongxing trading sideways between the 0.200 resistance and 0.185 support as it tries to build a base.


For monday :

Support @ 0.190 (upp pink, lightblue --), 0.185 (red ...), 0.180 (lightblue ...), 0.175
Resistance @ 0.200 (blue --), 0.203 (upp blue), 0.205 (green --), 0.210