SGX Ascendas REIT Shortstock is unable to sustain its uptrend, potential to short @ 2.87 with profit-taking @ 2.79 with stop-loss @ 2.9
ShortShort
Mapletree Log is still in corrective phaseMapletree log is on the way to complete the B wave and it is slated to move one final push ahead. Should the push is finalised at the supply level or 78.6% of wave A, there is a great chance that price will swiftly break below the rising wedge.
Momentum analysis suggest that the (b)-(c) sub wave of B is showing signs of slowing bullish momentum as compared to A.
Short
SGX Micro-Mechanics Longstock on a uptrend with recent downwards movement to close near upper bound of channel. Potential for upwards movement as reversal to recent downward movement. potential to long @ 1.70 with stop-loss @1.65 and profit taking @ 1.80
Long
Long
SGX Haw Par Shortstock on a downtrend with movement to next support line @ 9.55. Potential to go short.
Short
Thomson - Revisited - Adam & Eve formation in play?Previously in Jan 2020, due to Cov-19 incident, the TA is invalidated. After 3 months, despite many negative news, the market is making newer highs. Price is above MA 20/50. Do you feel that we are back in bullish bias? Feel free to share your thoughts. Let me your comments in the box below.
Note: This is not financial or investment advise. It will be good to always understand the risks involve in trading. Always trade with stop loss in place. If you like the analysis, please click on "thumbs" up; "like" button. Thank you.
Long
SGX SIA Shortstock is in a sideway trend and in a narrowing channel. As the squeese progress, potential to break upwards or downwards. Short-term potential to short and downwards pressure is slightly strongly. Potential to enter long @ 5.99 with stop-loss @ 6.23 and profit taking @ 5.76
Short
SGX MapleTree Com Trust Shortstock has lost its upwards trend and changing to a sideway movement. Stock is near the resistance line @ 1.89. If there's a breach, then potential to go higher. If not likely to go down to potential support @ 1.63. A potential short position @1.86 with stop-loss above resistance line @ 1.90 and profit-taking @ next support line @ 1.63
Short
SGX DBS Longstock has lost its upwards trend and changing to a sideway movement. However, Since it's at lower half of channel, potential to long and hold till it hit upper bound of channel @ 20.0 with stoploss @ 18.6.
Long
SGX ComfortDelGro Neutralstock is on an overall downwards trend. Currently, stock is in the mid-point of a sideway channel between 1.37 and 1.58. Outlook neutral but more likely to trend towards lower bound. If hit low bound, potential to long and if hit upper bound, potential to short.
SGX Keppel Corp Longstock is in a upward trend and breach resistance line @5.71 to reach 5.81. With results release expected on 29 Apr , there could expectation that results could be lower than normal built into the price. Potential for price to go further to next resistance line @6.00. Modified stochatic @ 39 1 1 also reaching 50% which is a trigger to long upon crossing 50%.
Long
SGX Jardine Neutralstock may be unable to maintain it's earlier upwards trend and currently potential to move sideway. Currently, have breached support line and came back. likely to continue sideways movement.
K71U (Singapore REIT) - last leg before path to new lowsK71U is finishing minor wave 4 up, but there is still on more small leg up to complete it. When complete this prime office REIT price should trace a down path to below 0.79. If price move touches the 1.14 level this scenario should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES
YZJ Shipbuilding Entering Support region. we are now entering a historical support range of 0.70 - 0.88 . This is a strong support which has held multiple times in the past (July 2009, September 2016) with a subsequent bounce off this range. Price level in specific i am looking at 0.79 as the crucial support which has been continuously tested but has held for the past 3 days after a bounce from the lows of 0.73.
In addition, a bullish divergence is observed on the Daily RSI, with a possible MACD reversal up. This suggest that in the near term, a bullish scenario would see a price reversal at 0.79 towards the upside
Fundamentals:
Potential Catalyst for upside:
YZJ Shipbuilding just secured a deal to build up to 10 Vessels (2 vessels confirmed and 8 more optional) in a contract worth USD$1.15 billion.
Cases in China are decreasing with most cases being imported. As the Chinese Government's effort to isolate imported cases and control the spread of COVID-19 kick in, factories and shipyard production will soon normalise and share prices will soon return to pre COVID-19 levels above $1
Potential Downside Risk:
Corona Virus Risk still looms over the global economy, with most companies expecting weak Q1 & Q2 earnings. Should the virus situation expand past Q3 2020, we can expect global trade to dramatically decrease, which will likely affect the commencement and subsequent completion of the other 8 vessels on Yangzijiang's order book.
Long
Sheng Shiong- Going for a correction after a straight up rally SHeng SHiong has a strong upside until last Friday, when there's a bearish engulfing candle. Subsequent sell-off occurs on monday open and judging from the sell-off, we are seeing a rebound at minimum 1st demand zone level.
Long
SGX Genting Neutralstock is on an overall downwards trend. With the market rebound, it did not manage to break its resistance line @ 0.775. It also breach the uptrend line on 20 Apr with downward pressure. There's a potential support line @ 0.72. If breaks above resistance, potential to long @ entry price 0.78 with profit taking @ 0.845 and stop-loss @ 0.72. If it breaks support line, potential to short @ 0.71 and profit taking @ 0.515 and stop-loss @ 0.775
SGX YZJ ShipBldg Longstock in up trend with potential to hit next resistance line @1.07 and if breakout will hit next line @ 1.13. Potential to long with stop-loss @ 0.94 and profit taking @ 1.07.
Long
SGX Hong Fok Longstock in narrow uptrend channel. likely due to better than expected result released on 28 Feb but overall market can down after that. After market recover, stock move upwards. Potential support line @ 0.7 and resistance line @ 0.84. Long position with stop-loss @ 0.7 and take profit @ 0.84
Long
SGX Asian Pay TV NeutralEarnings reported to be announced on 28 Apr. Last earnings was -ve. If continue to be -ve, then likely will fall further. Otherwise, depending on earnings level, could go up. If earnings are above expectation, price could break above 0.135. Currently, there is a narrow sideway channel and price is in the middle of the channel. If price breach 0.135, next resistance level is at 0.165
SGX Mapletree Ind Trust NeutralStock on a overall down trend but now moving sideways. Earnings to be announced on 27 Apr and earnings expected to be lower than expected. Actual move depends on actual result announced. If results better than expected, price potentially going upward towards resistance line @ 2.50. If earnings even lower than expected low, then potential to go support line @ 2.38.
SGX Starhill Global REIT NeutralStock could be in a weak uptrend channel after breaking out from a sideway channel on 9 Apr. It could very well be another sideway channel.
Earning to be announced on 28 Apr. expected earnings to be lower. If true, then likely continue sideways movement. If earnings better than expected, potential to follow uptrend channel.
SGX Suntec REIT LongStock is trending upward in a channel. Currently trading near low-point of channel. Potential to move upward. Potential to long @ 1.27 and take profit @ 1.36 (resistance line) while stoploss @ 1.22 (support line).
Long