Market Technician

NOL (N03): Test Support NOL is still in takeover discussion by France's CMA CGM. We are seeing some profit taking action. Sellers are likely to dominate the trading action during this period as we see price action softens with momentum indicators slowing. Thus, we are likely to see NOL retesting its support at S$1.16 , a Gap support created on 23rd Nov 2015, which also coincide with the lower channel. *Disclaimer Apply

Straits Times Index (STI) Technical View: Primary Trend (6mths or more) : Bearish Secondary Trend (1-6mths)     : Bearish Short Term(1mths or less)     :   Bearish Trading the Singapore Market (Long Trades) Long Term Trades : Not Preferred Mid Term Trades  : Not Preferred Short Term Trades: Not Preferred Levels to watch: Resistance 2: 3,100 Resistance 1: 2,950 Support    1: 2,820 Support    2: 2,740 Probable STI Movement Preferred  : Sideways   near  2,820-2,880 range Alternate  :  Bearish  downward movement towards 2,740 Remarks: STI continued its bearish movement towards Support 1 but closed the week at 2,859.12. The downtrend movement is likely to move to a range movement as we observed that the ROC(10), momentum indicator, downtrend line is broken. This signals a slowdown is in the selling momentum. Comments ...

QT Vascular (5I0): More Upside The stock got a boost today after US Court of Appeal do not permit the enforcement of the trial court's judgement as QT Vascular pends for appeal. The huge volume potentially signals short cover or short-term buying interest. And with the 1 month high volume today, QT is likely to trade towards its next resistance at S$0.117 . If successfully broken, the next target will be  S$0.140 . *Personal View, Disclaimer Apply

Spackman Ent (40E): Consolidation Begins The stock has trended up for 2 months since the breakout in October 2015. Volume and momentum indicator, ROC(13) is decreasing, thus we have a likely view that the stock would consolidate between its previous consolidation high of S$0.165 and recent support price of S$0.140. We are likely to see the moving averages play catch up before demand starts coming into the stock again.

Straits Times Index (STI) Technical View: Primary Trend (6mths or more) : Bearish Secondary Trend (1-6mths)     : Bearish Short Term(1mths or less)     :   Bearish Trading the Singapore Market (Long Trades) Long Term Trades : Not Preferred Mid Term Trades  : Not Preferred Short Term Trades: Not Preferred Levels to watch: Resistance 2: 3,100 Resistance 1: 2,950 Support    1: 2,820 Support    2: 2,740 Probable STI Movement Preferred  : Sideways   near  2,900-2,950 zone Alternate  :  Bearish  downward movement towards 2,850 Remarks: STI ranged 2,900 - 2,950 last week and it will likely to range 2,900, 2,950 again this coming week or a bearish downward move as both momentum indicator MACD and ROC(10) continues to show downward momentum. Comments on STI Technical View Primary Trend is bearish as 55 Days SM...

Straits Times Index (STI) Technical View: Primary Trend (6mths or more) : Bearish Secondary Trend (1-6mths)     : Bearish Short Term(1mths or less)     :   Bearish Trading the Singapore Market (Long Trades) Long Term Trades : Not Preferred Mid Term Trades  : Not Preferred Short Term Trades: Not Preferred Levels to watch: Resistance 2: 3,150 Resistance 1: 3,050 Support    1: 2,950 ( Broke ) Support    2: 2,800 Probable STI Movement Preferred  : Bearish  downward movement towards 2,850 Alternate  :  Sideways   near  2,900-2,950 zone Remarks: STI broke its support level at 2,950. Thus, showing strong selling pressure. STI will likely to retest its next support level at 2,850. Comments on STI Technical View Primary Trend is bearish as 55 Days SMA is trading below the 144 Days SMA, and 144 Days SMA ...

Straits Times Index (STI) Technical View: Primary Trend (6mths or more) : Bearish Secondary Trend (1-6mths)     : Bearish Short Term(1mths or less)     :   Bearish Trading the Singapore Market (Long Trades) Long Term Trades : Not Preferred Mid Term Trades  : Not Preferred Short Term Trades: Not Preferred Levels to watch: Resistance 2: 3,150 Resistance 1: 3,050 Support    1: 2,950 Support    2: 2,800 Probable STI Movement Preferred  : Bearish  downward movement towards 2,950 Alternate  :  Sideways   near  3,050 zone Remarks: STI fails to break its 3,050 resistance level again. A 2x failed breakout is strong bearish sentiments again traders. 2,950 is a moderately good support with a confluence of price level support and 50 days moving average support. Thus, STI is likely expected to test its 2,9...

Straits Times Index (STI) Technical View: Primary Trend (6mths or more) : Bearish Secondary Trend (1-6mths)     : Bearish Short Term(1mths or less)     :   Neutral   Trading the Singapore Market (Long Trades) Long Term Trades : Not Preferred Mid Term Trades  : Not Preferred Short Term Trades: Selective Levels to watch: Resistance 2: 3,150 Resistance 1: 3,050 Support    1: 2,950 Support    2: 2,800 Probable STI Movement Preferred  : Sideway Range between 2,950 - 3,050 Alternate  :  Bearish  downward movement towards 2,800 Remarks: STI fails to break its 3,050 resistance level. A failed breakout is bearish signal. 2,950 is a moderately strong support with a confluence of price level support and 50 days moving average support. Thus, STI may expect some support and trade range bound for this week.  Comments on STI...