Sakari – no end in sight
As previously mentioned, Sakari rebound yesterday is weak and today collapse further. Next support to bounce would be at 1.75.
Wilmar – seems to be supported by round number
Wilmar, despite the bloodbath close nicely at day high. Plus with 2 bullish candle, it seems like it is being supported by the round number $5.00. Therefore watch to see if tomorrow it can still be supported, especially when Dow is in blood red…
Capitaland – Hammer at support but… Dow is not giving bulls any chance
Yeah, isn’t it funny that I am posting Capitaland bullish candle when Dow at this moment is -200 points? Well, a candle is a candle and if it is bullish but the next day did not get a confirmation, one would not enter, right? Only those impatient and want to chase or tries to make a lot of profits always get burn. Like today, all counter posted did not even go higher at all. Therefore one would not have entered. Patience, patience, patience.
Nov 24, 2011 10AM Mid-week Webinar (Open to everyone)
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OCBC (on request) – possible Diamond Top pattern seen
Before anyone thinks I made up this pattern, it is a real pattern. OCBC looks like a Diamond Top pattern and according to price projection, OCBC could go back down to the low support. Therefore be cautious. If price is not going higher, it is going lower as it is close to impossible for OCBC to go suspended.
PSL (on request) – penny counter running
Looks like you hit jackpot with PSL as it has been running higher. However as it has been running for some time, do consider taking some off the table. Remember to always protect your capital. Strong resistance to watch is 0.50, but don’t put all your hopes that it will reach there as it may need to take a rest soon. As this counter is below 0.50, do be careful. As long as STI is bullish, penny counter has hope. But once bear market strikes, penny counters will go into hibernation.
STX OSV (on request) – more bullish than Sakari
STX OSV is quite bullish as it closed higher than yesterday’s high. Next resistance to watch out for is 1.18. If market continues to be bullish, there is a good chance it will break this resistance. If break below 1.02, you will have to consider cutting loss.
Sakari (on request) – weak rebound
Previously I posted Sakari where I mentioned that if Sakari breaks 2.14, it would be very bearish. You can read the posting by clicking here. Today (Tuesday) it is a white candle but the candle is not so “bullish” as it could not go higher or match yesterday’s closed. It can go higher but the resistance would be strong especially at 2.14 level. Therefore, if on long position, do watch your cut loss level.
Wilmar – Hammer at fibonacci support
Today Wilmar formed a hammer. Although it is not a nice hammer, but nonetheless, it is a hammer. Therefore watch to see if it can go higher.
Cosco (on request) – Bullish candle but… bad news?
Cosco today has a bullish piercing candle, however do note that confirmation candle is tomorrow (Wednesday). Which means the time to enter is on Wednesday, not on the candle day itself. Last I heard is that there are some company announcement which is not good (too sleepy now to verify it but you can find it out in SGX website. Therefore watch to see if it does not break below the recent low. Cosco is 1 counter that has not “move” much.
