Market Technician

Geely Auto (175:HK) Geely traded according to our pplan, price reached our 1st TP zone at HK$12.70  this morning  before coming off. If price able to break above HK$12.75 will then expect price to trade towards HK$14.10, if not when price reached HK$12.75, traders can consider profit take. Join Us on 2 Sept (Monday) to learn how Wyckoff Method can assist on our chart analysis and trading mindset. Disclaimer  applies.

Geely Auto (175:HK) Price marked down since May 19. Today, we saw price broke above its mid term downtrend trend line which gave expectations that there is strength in the Mark Up. Bullish divergence observed in MACD and FFI, provided technical evidence that the mark down is weakening. We expect Geely to trade towards first resistance at HK$12.75 with next target at HK$14.10. Geely Auto released its quarterly earnings report on 21 Aug. Company also has exposure in car makers Volvo and Daimler. Disclaimer applies.

Amazon (AMZN)      Failed to break above its Upward trendline on 3x attempts.    Negative relative strength and FFI indicator potentially points to stock's further weakness.    1st target price at US$1,760 and 2nd target price at US$1,675.    Break above US$1,835 will falsify the above analysis. Disclaimer applies.

Straits Times Index We held our latest Effective Technical Analysis class on 7 Aug. Above is the chart we analysed together after the class. STI is trading nears its channel low with momentum indicator MACD also trading nearing its lows, we have expectations that selling is likely to exhaust.  Thus, we have a short-term bullish bias on STI, with alternative bias of STI breaking below Channel Wishing all great weekend ahead.

ThaiBev (Y92) Despite Singapore market experienced sell off today, ThaiBev broke above its range after earnings announcement.  Smart Money has been with the stock since the stock broke above the red downward trendline. This can be seen from our RS indicator as it stayed above zero line since the red line break-out. RS above zero indicates the stock is outperforming the index. Upward momentum is expected to continue. Thus, I'll be on a lookout for pullback for trading opportunities. RS helps us identify stocks that outperform the market which mostly has a better demand factor for potential further upward move. Disclaimer applies.

Shanghai Composite (SSE) Despite US President Donald Trump tweeted that tariff will be delayed on some imports from China until 15 December, Shanghai Composite's rally was resisted by its support-turned-resistance level at  2,830 .  As index is unable to clear its overhead resistance, we have a short-term bearish bias on SSE, expecting the index to trade within range and retesting its support at 2,735. The downtrend line (Red Line) is key trend line to break if price is to resume its uptrend. Disclaimer applies.

DBS (D05) DBS broke key support at S$25.00. With price experiencing steep outflow and weaker than market performance, DBS is expected to trade towards S$24.00. MACD continues to trade in bearish momentum. Trading above S$25.22 will falsify above analysis. Disclaim applies.

Straits Times Index Review During the last session of our Effective Technical Analysis Class we forecast together on STI trading direction.  STI traded inline with our analysis, using the founding technical analysis principles and basics of trend and momentum we learnt . In conjunction with SGX, w e will be conducting our August class tomorrow , we will again be learning and discussing the next phase of STI trend and direction. More info on class and registration.

DBS (D05) We saw a change of character during yesterday's trading session. We are expecting further downside on DBS with first support at S$25.80-S$26.00 zone.