Saturday, December 1, 2018

Chart[96] - Headwind Ahead

On last trading days, several counters saw price down with significant transaction volume. It could indicate that sellers are gaining strength ahead. Let look into individual charts below:

Keppel Co: Price briefly broke support 6.08 on last trading day. It hit lowest price for year to date. Next stronger support could be ~ 5.76. Further the price falls, it translates to bigger discount from net tangible value 6.22.

UOL: Failing to challenge resistance ~ 6.4, the counter fell 2% with one of the its highest volume for year to date. Immediate support is 6, which translates to 50% discount from net tangible value and 3% dividend yield. Shall this been broken, next stronger support is around 5.5

Wilmar: The counter has been falling in price with rising volume over last few trading days. It could soon challenge 2018 support 2.97 which translates to 1.2x net tangible value. Shall this been broken, next stronger support is ~ 2.65. Market has been speculating about special dividend from the counter shall its IPO plan in China succeeds in next year.

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