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 --)