Genting – box trading tactics for trending ranges | Technical Analysis | Singapore Stocks


Genting has been trading very nicely within these boxes, and now there is a morning star reversal pattern near the bottom of a box. This is also near the bottom of the downtrend channel. In addition, it could be a false breakout below the 200-EMA which could have trapped some shorts. If you observe carefully, you will notice that a breakout to a new box is accompanied by a test of the opposite side of the box before another breakout. This makes the top of this box an excellent target.

Golden Agri – low risk entry near channel bottom | Technical Analysis | Singapore Stocks


Golden Agri seems to turning up from the bottom of the channel, and has successfully closed the gap (red dotted box), and at the same time forming a W-bottom. Yesterday, the gap was tested via a hammer, and this was also a test of the 20-EMA. This could be a bullish flag which will provide a low risk entry.

Straits Asia – bearishness ahead after violating major trendline | Technical Analysis | Singapore Stocks


Straits Asia has broken the long-term uptrend line and the long-term horizontal support line, which suggests bearishness for the weeks ahead. The short-term target for it would be to test its old low of 1.81. Watch for the markdown phase to commence. It is only a matter of time.

Guest Speaker for STATS Market Outlook & AGM 2010

Today, I was invited as a guest speaker to give a talk at 2009 AGM of STATS (Singapore Technical Analysts & Traders Society) on the “Strategic Outlook for 2010”. Before the talk, there was a poll, and it seemed that the general consensus is for a correction in the medium term. Here also some of the pictures taken from our slides.


Dow Jones Industrial Average

Straits Times Index
Ezra 
 
After finishing my talk, I opened the floor to the public and numerous stock requests were shouted out. Due to time constraints, I only had time to do an on-the-spot analysis for a handful of stocks.

Genting SP – get ready to short | Technical Analysis | Singapore Stocks


This is the 2nd test of the top of the box, watch it closely tomorrow. This stock has found good support at the 20-day EMA (red), and has yet to fall below the 50-day EMA (blue) in a long time. However,if you read between the lines, you will see that there is weakness in the stock. Get ready to short 1 tick below the low tomorrow.