Market Technician

  Aztech Global (8AZ):  Expectations of Price Markup Aztech Global specializes in designing and manufacturing IoT devices, data communication products, and niche LED products. The company reported a 19% increase in net profit in 1Q, with analysts suggesting product demand momentum could continue. P/E ratio stands at 7.52x with a dividend yield of 8.25%. The price has stabilized around the S$0.95 zone, showing minimal technical supply. This stability could pave the way for further markup towards S$1.08 and S$1.15 . Technical stop is advisable below S$0.925. Please note that stock's trading is less active. Disclaimers apply.

Thoughts on the Week Ahead:  Week of June 24, 2024 Chinese equities continue to struggle to rebound following mixed economic data released in May. This is coupled with the PBOC's decision not to cut interest rates, maintaining the Renminbi against a strong US dollar. The China A50 index is currently trading near our first support level at 12,000. If this level is breached, the next support level to watch is at 11,500. In the US markets, the S&P 500 has shown upward momentum throughout the week but faces resistance at its current levels. The index remains biased upwards as long as it holds above its technical support range of 5,375-5,400 . This Friday's release of the May PCE report could impact market direction. The Straits Times Index (STI) continues to experience fluctuations, finding support around the 3,250 mark. W e favor selective long trades in the US and Singapore markets, while maintaining caution regarding Chinese and Hong Kong equities. Headlines for the week:...

Boustead F9D - Potential Further Mark Up S$1.02 Company just reported its financials 2 weeks ago, revenue and earnings rebounded with it's energy and industrial real estate solution divisions are seems benefiting from industry trends. Stock is fairly valued at PE ratio of 7.60x, while dividend yield is at 5.39%p.a. OCBC recently wrote a research report on Boustead, with valuation at S$1.47. First technical target, S$1.11 zone, stop below S$0.99. Disclaimers apply

  Thoughts on the Week Ahead: Week of 17 June 2024 "No Elon, No Tesla" – Tesla shareholders have spoken, with more than 70% approving Elon Musk’s pay package. With his position secured, the market will be looking for more commercial innovations from Tesla Inc. In the US markets, over the past weeks, tech companies have outperformed the broader market, with a 38% gain compared to the broader market's 19% gain since 27 October 2023. Therefore, to achieve alpha or increase the probability of a higher win rate, positioning and tactical trades in technology companies are preferred. The Straits Times Index (STI) retraced lower since hitting the 3,350 resistance level, with immediate support at 3,250. The China Market (China A50) is in the technical support zone , and we are looking for more evidence of market demand to confirm any theory of a trend reversal. Investors could consider adding to bond ETFs (e.g. ZROZ ETF) for both the US and Singapore markets in batches, as bond ...

  Thoughts on the Week Ahead: Week of 10 June 2024 Yes, at 39, Cristiano Ronaldo, will be joining Portugal's squad this coming weekend for the UEFA Euro Cup 2024. And who do you think will be crowned the Kings of Europe this year? Most of our focus will be on the upcoming US FED FOMC announcement. The market largely expects no changes to the target rate. However, our eyeballs and ears  will be on the FED Chairman’s speech, particularly if the committee continues to believe that inflation has plateaued, after a hotter-than-expected jobs report on Friday. Markets are expected to be muted ahead of the announcement, and Chairman Powell’s speech could lead to directional moves for bonds and equities. Nvidia’s stock spilt on Monday will also be watched by many, if a “cheaper” Nvidia would attract more investors interest. Technically, the S&P 500 is hovering below its key resistance area of 5,426, with our Fund Flow Index (FFI momentum Indicator), indicating uncertainties in the ...