Morning Highlights

The market is in side way trending since morning. We are expecting both short and long opportunities.

 

For the mid cap, Yanlord is still on top of our list. Yanlord did a breakout in the first 30mins of the early trading at 2.62 and hit a high of 2.70. But swiftly, the price comes down to 2.64/2.65 (bid/offer). There is a setup on 2.70. We can do a Buy at 2.71, Stop Loss at 2.60, Take Profit at 2.82.

<Note there is a high at 2.80; watch out for profit taking level>

 

For the top cap, SGX has been trending sideways for the past 8 trading days, at a price range of 7.02 – 7.29. Do watch out for price level at 7.29 (high) and 6.87 (low).

 

 

 

City Development has been weak. There are 3 obvious peak made on these separate days.

1st peak on 3rd June 2009 – 10.44

2nd peak on 12th June 2009 – 9.79

3rd peak on 26th June 2009 – 9.14

There is also a low of 8.30 made on 24th June 2009. The moving averages are pointing down, indicating a higher chance for City Development to break down. However, the chart is forming a descending triangle; once a breakout is done from the formation with high volume, there might be some short term action. But market behaviour will determine the strength of the trend.

 

 

With reference to the banking sector,

We have OCBC as the weakest of all. Both DBS and UOB are trending sideways.

Things to watch out:

OCBC – 6.42 low;

DBS – 11.16 low;

UOB – 14.00 low

 

 

 

Afternoon Highlights

Based on the current outlook, we are only 64.25 points away from previous low of 2211.81; 85.79 points from a short term high of 2361.92. This implies a higher probably of trending down.

 

We will be analyzing and sharing with you our insights on some of the stocks in the Top & Mid Caps.

1)    Indofood Agri hit the low of 1.15. We have to watch out for possible breakout at 1.16 and 1.06. The Moving Averages are trending downwards in an orderly manner.

 

 

2)    Swiber Holdings has gone past the support of 0.85. It is definitely bearish. The Moving Averages are negative and trending in an orderly manner.

 

 

Quick Picks: Here is a quick pick screen that we have designed to pick out potential stocks, both Bullish and Bearish. These are measured with emphasis on larger changes in price and volume.

Note: We are looking at Mid-Term Short Trading for these positions. Holding Period should not go beyond 1-2 months. We will update the progress development of the Quick Picks as mentioned herein.

Bearish Stocks (Singapore):

 

Symbol

Name

Entry

SL

TSL

TP

Remarks

1

HIPI

Hi-P International Ltd

0.56

0.63

 

0.49

 

2

BIOS

Biosensors International Group Ltd

0.455

0.51

 

0.49

 

3

EZRA

Ezra Holdings Ltd

1.13

1.23

 

1.03

 

4

IFAR

Indofood Agri Resources Ltd

1.14

1.32

 

0.96

 

5

SWBR

Swiber Holdings Ltd

0.825

0.89

 

0.76

 

6

COSC

Cosco Corp Singapore Ltd

1.23

1.33

 

1.13

 

 

In Summary, 

Market has been very choppy lately. Even for today, it continues going side ways. For conservation traders, we advise to stay at the sidelines till a clearer trend is formed.