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 --)