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.

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

Chart[101] - GSS Energy

The counter was seeing strong buying interest for last week. On last trading day, price closed at resistance ~ 0.106 with largest transaction volume since last October. Shall it be broken, next resistance could be ~ 0.119. A double bottom formation could be undergoing.

RHB re-iterated "BUY" rating with 0.19 as target price on last Friday. The news might have sparked attention among traders.

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Chart[100] - China Aviation

The counter saw strong buying volume since last week of 2018. Price successfully broke resistance 1.13 on last trading day. Shall uptrend persist, next stronger resistance is ~ 1.28. Looking backwards,  price has been free falling since early October. Selling trend was not followed with strong volume. Current price could have found some support.

Chart[99] - Silverlake Axis

The counter saw strong buying interest on last trading day. DBS initiated "BUY" rating on the counter one day before. After market closed on Friday, the company released two positives news related to new business opportunities.

It's price has been range bouncing from 0.4 to 0.44. Shall break up form 0.44 with similar volume, next resistance would be ~ 0.46 to 0.48. 5% dividend yield looks attractive on the counter as well.

Chart[98] - SIA Eng

The counter has been selling down 20% since last Nov. As shown on first chart below, buying interest could be back on last Friday. It actually bounced up strongly from 2.24 with significant volume. Looking into second chart, the counter already fell to the level on financial crisis period ~ 2009.

~ 2.2 formed immediate support for current downtrend. Shall buying interest continue, 2.46 would be immediate resistance. Valuation looks attractive with 5% dividend yield. Net cash > $400m.

Chart[97] - Sunningdale

The counter price rose with significant volume on last two trading days as refer to first chart below. Price closed below resistance ~ 1.52. Looking its two years price range in second chart, current price is in lower range. Shall it break up from 1.52, it could try to fill up trading gap up to 1.71. A trading opportunity could be presenting.

[1] https://www.theedgesingapore.com/sunningdale-says-prefers-focus-fundamentals-response-quarz
[2] https://research.sginvestors.io/2018/12/sunningdale-tech-uob-kay-hian-research-2018-12-12.html

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.

Chart[95] - HongKongLand

The counter has been falling in price since mid 2018. Current price represents ~ 30% down from 2018 peak. It's price rebounded with significant volume on last trading day. Shall next resistance 6.17 been broken, trader could set target price as far as 6.68. 

Zooming out to longer time frame, current price is pretty close to its 6 years support ~ 5.6 to 5.8. Considering current valuation ~ 0.4 P/B, bargain hunter should appear soon. 

Chart[94] - Man Oriental

The counter hit its 1 year peak ~ 2.7 on last June. Thereafter, its price has been free falling about 30%. Last two weeks saw price edging up with rising transaction volume. Buying interest could be gathering pace on the counter for the moment. Shall immediate resistance 2.03 been cleared. more upside could be seen. If support 1.75 fails to hold, downtrend would resume.

Relevant News:
[1] https://www.theedgesingapore.com/mandarin-oriental-hits-south-america-amid-new-hotel-push
[2] https://www.theedgesingapore.com/excelsior-hong-kong-close-end-march-us650-mil-redevelopment

Chart[93] - ThaiBev

The counter has been moving in downward channel since late 2017 as shown on first chart. There was a small rally in price since mid September but failed to break up the from channel still.

 

Zooming into the chart, price actually fell with small volume last week. Last trading day saw a rebound instead. Shall it clear resistance 0.66, 0.71 is worth for waiting. Downtrend would persist if price fall back support ~ 0.61 again.

Chart[92] - Clearbridge

The counter broke up from 2 months resistance ~ 0.26 on last trading day Buying volume was significant. Shall buying interest maintain, next target price shall be 0.3 Current price is still below its IPO debut price on end of 2017 and ~ 70% discount from its peak. The downtrend since last April has paused for the moment.

Relevant News:
[1] https://www.theedgesingapore.com/clearbridge-health-rides-chinas-biotech-boom-cancer-diagnostic-spinoff
[2] http://infopub.sgx.com/FileOpen/Clearbridge%20Health_Corporate%20Presentation%20Q2%20and%206M%20FY2018.ashx?App=Announcement&FileID=521612

Chart[91] - SIA

The counter landed at multiple years support ~ 9.5 following recent selling rout as shown on lower chart. On upper chart, price tends to form double bottom formation (W shape). Shall it break resistance 9.9, small rally could happen.

 

Chart[90] - Big Boys Falling

The following counters lost respective few years support last week. Headwind is strong at the moment.

CityDev has been down falling in tandem with STI pace since mid 2018. Selling pressure accelerated upon announcement of new property cooling measure from local government. 9.22 was broken on last Monday. ~ 8 could be next support to be tested.

DBS lost its ground on mid week. Next support ~ 24. It has been among top selling target of institute's fund for the period. Downtrend could persist.

Keppel Co has been hovering around 6.56 for early last week but selling pressure prevailed in the end. Next support could be ~ 6.26. Worth to take note that current price is around net tangible asset value of the counter.

Singpost saw significant selling volume since early August. Support ~ 1.13 was broken last week. Next support ~1.03 shall be tested soon.

Chart[89] - Yangzijiang

The counter has been plunging almost 50% since its peak last October. For the past one month, the price has been moving side way. Buying volume seems to be gaining momentum as well. Shall resistance 0.955 be cleared, more upside could be seen.

Chart[88] - Citic Envirotech

The counter saw strong buying interest since announcement of latest earning. On last trading day, it successfully broke up resistance 0.595. Looking ahead, next resistance would be 0.69. There is potential profit ~ 10% for trader, shall the upward movement sustain.

Relevant earning news:
https://www.theedgesingapore.com/citic-envirotech-2q-earnings-double-433-mil-declares-maiden-interim-dividend-05-cent

Chart[87] - UOL

The counter suffered from heavy selling pressure due to new property policy announcement on mid July. Trading gap from 7 to 7.4 was formed afterwards. Price slowly edged up with a break up on last trading day. Shall buying momentum continue, trader could position with 7.4 as immediate target price.

Chart[86] - SPH

The counter has been consolidating between 2.4 to 2.79 since 2017 Sep. The downtrend since mid 2017 paused. Last trading day saw price residing at resistance 2.79. Market responded well for latest earning from the counter last week. Shall price break up from 2.79 with significant buying volume, trend could be changed. More upside could be seen as well.

Chart[85] - Golden Energy

The counter saw some buying interest since it released latest earning results. Price has been moving with rising volume as show on daily chart below.

Looking into its weekly char, shall price break up from 0.38 with significant volume, more upside could be seen from the counter.

Chart[84] - Singpost

The counter saw significant volume on last trading days, mainly due to its latest earning results. Price has broken one month resistance 1.35. Two more resistance ahead would be 1.4 and 1.44 as shown on upper chart below. Looking into weekly chart in lower chart below, price trend could be forming higher low formation which started since early of the year. Shall price drop below 1.31, the uptrend could fail to be forming.

http://www.businesstimes.com.sg/companies-markets/singpost-back-in-the-black-in-q4-on-absence-of-impairment-fees