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Wednesday, November 6, 2013

Super Group - Likely more upside ahead after bullish breaks


Immediate obstacles conquered
Super Group could see more upside ahead after initiating strong bullish breaks above both its 3-month downtrend resistance and $4.30 resistance on significant trading volume yesterday.

Indicator turning bullish
The MACD is on the brink of climbing back above its centerline now, suggesting that the upside momentum is picking up.

Next resistance at $5
The counter could potentially head towards the $5 next key obstacle (key peaks) in the weeks ahead.

Immediate support at $4.30
Meanwhile, we advocate a stop-loss exit around $4.25, which is slightly below the newly established resistance-turned-support at $4.30.

Source : OCBC Research

Monday, November 4, 2013

CSE Global - Strong bullish break suggests further recovery


Key obstacles conquered
CSE Global could see more upside ahead after initiating a strong bullish break above the $0.92 key resistance on heavy trading volume yesterday.

Indicator is bullish
The MACD has just rebounded off the centerline and also initiated a bullish crossover, suggesting that the upside momentum has improved significantly.

Next resistance at $1.12
The counter could potentially head towards the $1.12 next key obstacle (key support-turned-resistance) in the weeks ahead.

Immediate support at $0.92
Meanwhile, we advocate a stop-loss exit around $0.90, which is slightly below the newly established resistance-turned-support at $0.92.

Source : OCBC Research

Tuesday, September 24, 2013

Ying Li International - Bullish breaks suggest more upside to come


Key resistance taken out. Ying Li International could see further recovery after initiating strong bullish breaks above both the 7-month downtrend resistance and $0.45 key resistance on heavy trading volume yesterday. 

Indicator turning bullish. The MACD has just climbed back above the centerline, suggesting that the upside momentum is accelerating. 

Next resistance at $0.54. The counter is likely to head towards the $0.54 next key obstacle (key peaks) in the weeks ahead. 

Immediate support at $0.45. Meanwhile, we advocate a stop-loss exit around $0.43, which is slightly below the newly established resistance-turned-support at $0.45.

Source : OCBC Research

Sino Grandness - Likely further recovery after bullish breaks


Downtrend resistance conquered. Sino Grandness could see more upside ahead after overcoming its 2-month downtrend resistance recently; this was followed by a bullish break above the $1.30 key resistance on heavy trading volume yesterday. 

Indicator turning bullish. The MACD is still climbing steadily towards its centerline, suggesting that the upside momentum is building up now. 

Next resistance at $1.60. The counter is likely to head towards the $1.60 next key obstacle (key peaks) in the weeks ahead. 

Immediate support at $1.30. Meanwhile, we advocate a stop-loss exit around $1.24, which is slightly below the newly established resistance-turned-support at $1.30.

Source : OCBC Research

Sunday, September 22, 2013

Elite KSB Holdings (EKSB SP; S$0.35) – SELL


■ R2: 0.385
■ R1: 0.355
■ S1: 0.320
■ S2: 0.275

Prices are currently forming a bearish wedge pattern. The rise from the June low appears to be slowing down.

The RSI shows that the upward momentum is weakening. The MACD is rising but only at a slow rate.

Hence, we prefer to be sellers on strength against the S$0.385 key resistance. Below S$0.32 would enhance the view that the reversal from the wedge pattern is underway, targeting S$0.245-0.275.

Source : CIMB Research

We Holdings(WTE SP; S$0.054) – SELL


■ R2: 0.067
■ R1: 0.060
■ S1: 0.046
■ S2: 0.041

The stock has been trading sideways since the sharp fall in March. We see a complete triangle pattern at S$0.06.

The MACD is tugging along the zero line while the RSI is below the 50-60pts mark.

We believe that more weakness would follow soon. Aggressive traders may go short with a stop placed above S$0.06. Below S$0.046 would confirm that the stock is headed for S$0.029 and S$0.022.

Source : CIMB Research