Charts Review: CNMC Gold (5TP)

CNMC Gold (5TP)
We shared that the selling that started in Aug 2019 was weak and expect price to rebound from key support level.

Price traded inline with our analysis as above.

We noted that the selling was weak because we did not sight selling with increasing volume, a bearish characteristic as stated in Wyckoff Method.

Price thereafter halted at our analysed S$0.245 level, broke above our the downtrend line and traded back towards our high volume node at S$0.28.

Congrats if you have followed the trade.

We now expect the stock to trade in Range fashion and may see price trading higher if more buying volume (Bullish Character) comes in.

Understand market demand and supply and trade in line with market by observing some of Wyckoff key principles such as Bullish/Bearish Character at our next Course Preview at SGX Auditorium.

Disclaimer applies.

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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