Chart[103] - Consolidation awaiting break up

Three counters were found in consolidation formation while respective prices were slowly moving upwards. They deserve more attention for potential break up in price.

DBS gained more favor from market after OCBC and UOB released earning. While the peers were selling down, its price was bought up on last trading day. Higher low formation was seen since early 2019. 25.2 could be the break up price to monitor.

Sembco and Semb Marine has been rallying since mid of last week. Keppel Co has been laggard to it's peers. 6.36 could be critical resistance to monitor. Shall this be broken, more upwards movement could be ahead.

Raffles Medical has been moving in upwards channel since last July. Current price is near to support line of the channel. Next Monday will see latest earning result from the counter. 1.2 is the resistance to monitor.

Feb[4] - Market Updates

US:

DOW Jones is approaching to its historical high ~ 27000. Against all odd, it has broken all conventional resistance for last month rally. Looking it's movement since 2018, there would be 3 peaks as highlighted as #1, #2 and #3 (undergoing) in chart below. Interesting to note that it could be an head and shoulder formation (bearish) shall current rally fail to break previous peak #2. Market players shall pay attention to US index movement on following weeks.

Market Calendar:

Next week will see earning from Raffles Medical, UOL and Golden Agri

Chart[102] - Singapore O&G

The counter saw surge in buying volume last week as in upper chart below. Price broke up from 0.36 which is 6 months high. Looking into weekly chart as lower chart below, 0.38 would be next resistance. Shall it be broken, next stronger resistance would be ~ 0.44, which translates to attractive trading target. The counter actually released a strong earning results upon market closed on Friday.

https://links.sgx.com/FileOpen/SOG%20-%20Press%20Release%20for%20Full%20Year%202018%20Results%20-%2015.02.2019.ashx?App=Announcement&FileID=543721

Feb[3] - Market Updates

Oil:

Crude oil could have come to crucial boundary for potential formation of reverse head and shoulder. Shall it break 55.7 decisively, new high could be seen soon. ETF would be convenient tools for trading on such volatile index.

Trade on bullish Oil: Oil ETF (ticker: DBO)

Trade on bearish Oil: Inverse Oil ETF (ticker: SCO)

Market Calendar:

Next week will see results from DBS, UOB, Sembco, Semb Marine, Wilmar, Venture, Genting, ST Eng.

Feb[2] - Big Boys Falling

STI has been rally from it's 2018 trough. It's REIT counters have been hovering around multiple years peak as well. Let shift the focus to some index stocks which still struggle in multiple years low price range. While other counters pause from rally, they could take the lead instead.

Shall any positive announcement came from US-China trade talk by deadline, it could change sentiment to port operator, HPH Trust which gives highest yield among STI constituents. Infrastructure segment usually draw attention during mid-bear cycle, so Sembco Ind and Singtel worth for monitoring now. SPH already came to historical low range during its transition from printed media to property and overseas market exploration. It's dividend yield looks attractive though. Latest operating results show improve in load factor for passenger to SIA but weakened for it's cargo. Current price valuation is undemanding.

Feb[1] - Market Updates

Singapore:

200 days moving average is commonly taken as critical reference (support/resistance) for market index. STI broke its 200 days moving average on last year March, and resumed its downtrend thereafter. In tandem with US market rally, STI is going to test this major resistance on coming weeks. Investors could take opportunity of recent rally to reshuffle portfolio. 

Market Calendars:

Several blue chips are going to release latest earning results next week.