Skip to main content

hang Seng Index (HSI) and Tencent Heading Higher

 

Hang Seng Index (HSI) and Tencent (700) broke out of trading range. We expect both to head higher towards their respective targets.


Disclaimers apply

Popular posts from this blog

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.

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

Weekly Markets Outlook

  Thoughts on Week Ahead:  Week 15 April 2024 As we embark on the week ahead, it's important to acknowledge the evolving landscape of market dynamics. Quoting from Netflix's '3 Body Problem,' we find ourselves in what could be termed a 'Chaotic era.' The S&P 500 has entered a phase of increased volatility, signaling a potential sideways or downward trend in the short to medium term. Initial technical support rests at the 5,050 level, marking a retracement of 23.60%. This shift in trend is likely influenced by stronger-than-anticipated inflation data and job reports, prompting the US Federal Reserve to prolong its 'higher for longer' rate policy. While bank earnings have failed to meet market expectations thus far, the onus now falls on broader market earnings to sustain current optimism. Failure to do so could result in investor sell-offs. China A50 Index failed to break above trend resistance, cautious o n tactical trades for Greater China. Gold e