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Charts in brief: 15 Mar 10

Monday, March 15, 2010

I decided to just do a summary, charts not included, to highlight what I think might be some interesting observations for a few counters I charted this evening.  I call this "Charts in brief" and this will be something I might do more often as and when I don't really have a lot to say about any counter in particular.


Golden Agriculture: The sell signal on the MACD is confirmed today.  Price closed at 57c, forming a doji, on reduced volume.  I am still waiting to accumulate at support.  Please see: Golden Agriculture: Waiting for support.

AIMS AMP Capital Industrial REIT:  MFI and OBV both turned up.  The MACD has crossed zero, suggesting a return of positive momentum.  An expansion in trading volume with the next upmove in price would be nice.  Please see: STI and Aims Amp Capital Industrial REIT.

Healthway Medical:  A black candle day but on much reduced volume.  OBV is flat.  So, no distribution.  MFI declined but is still in the overbought region.  Although the uptrend is intact, buying on weakness would be a safer option than buying now and hoping for a breakout.  Basically, the risk premium is much higher now.  Please see: Healthway Medical: A retest of recent high.


Saizen REIT: MACD seems set to make a bearish crossover with the signal line.  MFI has gone into oversold territory; buying momentum is weak. OBV has dipped.  This is a sign of distribution.  The uptrend is intact even if the price should retreat to 15.5c. I know many people ready to pounce on the counter if this should happen.  I would buy more on weakness.  Please see: Saizen REIT: March 2010 presentation.


Genting SP:  This counter has been enjoying a revival lately but on decreasing volume.  Daily volume has been lower with the price moving higher since 5 March, the day when price and volume spiked up.  This suggests that the buyers are, probably, mostly shortists covering their positions.  This is not to say that the price cannot move higher but without a significant number of new participants coming in on the long side, any move upwards would lack sustainability.  Please see: Genting SP: Stale bulls' second chance?

4 comments:

Pathfinder said...

Hi AK71, your blog got me interested in the equity market again and I've made my first move today. On hindsight I felt that I might have been impatient for not accumulating only on support, but time will tell. Hope you don't mind me adding you to my blog list as well!

AK71 said...

Hi Pathfinder,

I am happy that my blog got you interested in the equity market again. So, I guess you were in the equity market but went away for a while? I am curious what your first move might have been today? ;p

Please go ahead and add my blog to your list. You are most welcomed. :)

Anonymous said...

Hi AK, been following your blog for some months now (silent reader, I guess there are many of us around). Learn much about Reits from you actually, never did invest in them until just and I'm not from Singapore. Been accumulating some Saizen and AIMS. Please keep up the education. Just wanted to thank you. Cheers man.

AK71 said...

Hi,

You are most welcomed. I just enjoy sharing my ideas with people and investing for passive income generation is something I think about all the time.

As so many S-REITs are trading at huge discounts to NAVs and offer quite amazing yields, investing in these REITs is clearly a better alternative than putting money in government bonds, for example.

I am glad that my blog has readers beyond Singapore. Our government should be happy to know that I am helping in their efforts to build an external economy for our country. ;)

Thank you for visiting and do come back often. :)

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