DBS – Closing any lower would not be bullish
If DBS closed below 14.36, it would signify a failed breakout and that would not be bullish.
Singtel – still forming the ascending triangle
Singtel has been forming a long term ascending triangle, but as of now, there are no signs of breakout yet. Do put this into your watchlist as it gets closer to the resistance.
Position re-clarify
Wow, I did not realize that I had opened a can of worms. Suddenly received a few emails asking me to explain my position why I am so bearish. Wait… I am not bearish… I just happen to short the market and will be looking to short more of the market.
A lot of chart has Golden Cross which means the 50 day cross up the 200 day moving average, which signifies a very bullish signals for longer term. I agree with this statement, but price right now is away from 50 day moving average and a lot of counter is at resistance. Which is why I started to initiate shorting position. Do remember, I am a trader first. As long as price is at resistance, there is a higher chance that it may come down and I am trying to catch this movement down. And if after profit taking and looks like it will go higher, I will just close my short profits and go long again (which will then the Golden Cross is “happening”). If I am wrong and market kept on going higher, I will just cut loss and be on lookout for long position. Trading is simple as long as one leave the emotion part out (and I agree, it is easier said than done). We are human and my blood I just checked is warm. Emotion is always around, but when we trade, think logically. Play it like you play chest, oops, I mean chess. Think strategically how you want to move your pieces. Sometimes you will have to sacrifice your knight for the queen.
Oh and let me re-clarify: The email that I send out is not an advisory service. It is purely for education purposes, and I mean it seriously. If you want to trade it, do your own due diligence and consult your authorized broker. Only they can advice you. I am only giving my own personal opinion.
Forgot to mention…
An email was sent out to everyone early this morning. Those that signed up before 7am would have gotten it. If you did not receive, do check your Spam folder as sometimes it may be in there.
Thanks.
Mar 15, 2012 Mid-Week Singapore stocks with Jonathan Tan
Hang Seng got bloodied by Shanghai yesterday but yet Straits Times has one of its best days. There are divergence between Straits Times and regional market. Could it be that Singapore counters knows something that other countries don’t? What about Singapore individual counters? Find out what it is in this week video edition.
Remember to let your friends know about this video, Facebook and weekly webinar (Thurs 10am). Thanks
IndoAgri – Shooting star seen
IndoAgri formed a shooting star resisted by 20 day moving average. Those on long position do be cautious.
CapitaMall – bearish divergence
CapitaMall is coming close to a previous falling window now acting as resistance. with multiple indicators showing bearish divergence, caution on the long side is needed.
Mar 15th 10:00am Mid-week Market Review (Open to everyone)
Over the last few days, Strait Times has gone higher, but there is a divergence between Straits Times and Hang Seng. Is this a good sign for Singapore stocks or a sign that market is trying to trap retailers? Join me in this webinar to find out more.
Click here to access the webinar 10 minutes before it starts.
Wing Tai (on request)
Wing Tai seems to be resisted by the 20 day moving average. But on the bright side, the 50 day is rushing to meet the 200 day moving average which when crossed would be a golden cross (but not yet happen yet). As of now, there is no long or short signals seen, just that price action suggest some tiredness as candles are small over the last few days.
Wilmar – possible bear flag
Wilmar is now trading below the psychological 5.00 now acting as resistance. Over the last 5 days, it has been trading inside the almost solid black candle (see arrow). As long as it cannot go higher than this black candle, then bears are still in control.
