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Charts in brief: 24 May 2010.

Monday, May 24, 2010



FSL Trust: There is confirmation of the reversal signal. Price closed higher at 45.5c. There is a chance that the counter might move to test 50c but before that, expect resistance at 47.5c and 48.5c. MACD is closing the distance with the signal line.  MFI has emerged from the oversold region after forming a higher low. A rebound is underway.




SPH: A white candle formed but it's not a morning star set up. Volume was not impressive either.  It was a weak rebound. It remains to be seen if volume will expand meaningfully if price continues to move up. Initial resistance at $3.82 followed by $3.91.



Golden Agriculture: A bearish day as all the gains of the previous session was wiped out today. OBV continues to decline which indicates continuing distribution. Volume continues to decline as the price pulls back. As the downtrend is intact, I would wait for clearer signs of bottoming before adding to long positions.


LMIR: Reversal signal failed. Very bearish. OBV continues to decline, indicating continuing distribution. MACD continues to increase its distance from the signal line, pulling away downwards. This counter is still trying to find a bottom.

12 comments:

Anonymous said...

Hi, I'm just wondering if i may ask, which broker would you recommend? What are average commission rates like? Thanks!

AK71 said...

Hi Anonymous,

I have accounts with Lim&Tan and KimEng. If you do your own trading online, they are all pretty much the same. Minimum $28 per transaction.

If I am not mistaken, the least expensive brokerage fee is from DBS Vickers at under $20 per transaction.

Could you include your name or initials in future comments? Thanks. :)

sqr said...

DBS vickers charges minimum 18S$ per transaction if you use cash.

AK71 said...

Hi Sqr,

Thanks for confirming the charges by DBS Vickers. :)

Anonymous said...

Hi Ak,

If I have to choose, which is better to buy AIM reit or LMIR??
Please advice.
Tks always,
Naomi

AK71 said...

Hi Naomi,

Estimated annualised DPU of 2.05c for AIMS AMP Capital Industrial REIT. So, buying at 20.5c gives a yield of 10%. Technically, 20.5c is the support of a multi month trading range but this was just compromised yesterday at it touched a low of 20c. Could it touch 19.5c? I bought some at 20.5c because I feel that the downside is limited.

LMIR's annualised dpu is estimated at 4.8c. At 43c, the yield is 11.16%. This is 11.6% higher than AIMS'. Technically, however, LMIR has been very weak and the downtrend is obvious. I am wary of buying more LMIR now because it is still trying to find a bottom. If you like the yield and want to get some, a small hedge perhaps?

Good luck. :)

Anonymous said...

Hi, i was the one who asked which broker are you using. Sorry but i don't understand the rate at option express when it comes to stock investing because i am not interested in trading, or maybe at least for now because i am still new!

PA

AK71 said...

Hi PA,

So, you are not interested in trading but interested in investing? Am I right to say that?

You just need to start a basic trading account with any brokerage then. Don't bother with the more "complicated" stuff. :-)

Anonymous said...

I see!

Thanks for the help!

PA

AK71 said...

Hi PA,

My pleasure. :-)

I would advise picking up both FA and TA before you start buying anything in the stock market next. :-)

Anonymous said...

I can see that both FA and TA are a key components in investing from your blog!

And i won't jump on the bandwagon until i think i am prepared! But did you learn them by simply reading through the net, or do you have books to recommend? FA is easy; just read the usual Buffet's or B. Graham's! But TA?

PA

AK71 said...

Hi PA,

Some say that FA is tougher. ;) It depends on one's inclination and how in depth do we want to go.

For sure, the internet is a boon. A lot of resources are freely available online. I like "Investopedia", for example.

Some books I enjoyed reading are found in the box labelled "Books I've read" towards the top right hand corner of this blog. The two TA books in the DUMMIES series are easy to read. Maybe, you could give them a go. :)

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