Singapore Airlines (C6L)

Singapore Airlines (C6L) - Bullish Bias

SIA:SP (Weekly Chart) Bullish Bias towards S$11.65

SIA has been trading in a medium term range bound between S$9,43 and S$12.93. Price broke out from its May 17 - Jan 2018 consolidation (Accumulation phase?), a bullish Ascending Triangle like pattern. Using Fibonacci retracement tool, we project the 1st target price at S$11.65 with 2nd target price at S$12.50.

Fundamentally, SIA is experiencing load factor improvements during the last few months 2017. Meanwhile, its related airlines Silkair and Scoot are both also seeing improving passenger carriage growth.

As Asian and global economies continue to strengthen into 2018, SIA operating environment momentum looks set

News Link:
http://sbr.com.sg/aviation/news/sia-groups-passenger-load-factor-18ppt-847-in-december

Key risk on the charts would point to the decreasing volume and a price break below S$10.33, will violate the above forecast.

Wyckoff's Law of Effort

Law of Effort Wyckoff's Law of Effort states that on any single trading day (or week depending on time frame), huge volume (effort) push by participants should see huge price movement, resulting in a wide spread (long body). This is a basic principle of effort and result. However, as per Singtel's case study, we saw huge selling volume on 11 May, yet the price action only shows a narrow spread (small body). This divergence of effort and result in Wyckoff's Law of Effort principles, indicates possible exhaustion in selling or hidden buying. Thus, with a lack of weakness, Singtel should continue trading range bound for the coming days or weeks till further strength or weakness is observed. Swing Traders who trades range can consider positions at 3.70-3.72, with exit target 3.76-3.78.

DBS Group Holdings (D05): Upward Move Expectations

DBS Group Holdings (D05) Upward Move Expectations Technically, price trading above 36.58, could see DBS Group retest previous high of 38.55. Both Relative Strength and momentum indicator FFI are supportive of the move. Stop below 35.42 Disclaimers apply

Keppel DC REIT (AJBU): Expect price to trade towards S$2.00

Keppel DC REIT (AJBU) Expect price to trade towards S$2.00 We have observed a decrease in technical supply at the S$1.80 support area during recent trading sessions. Furthermore, a softer interest rate outlook could be advantageous for the Data Centre operator. Consequently, we anticipate the REIT to move towards our initial target of S$2.00, with the potential to reach S$2.20 if it breaks through resistance. Our stop level is set below S$1.72. Disclaimers Apply

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