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Charts in brief: 14 Jun 2010.

Monday, June 14, 2010

LMIR: Price continues to be resisted by the 50dMA at 47.5c. Volume was very low today and continues a picture of negative divergence between price and volume. As MFI rose gently higher, the OBV is flattish. This is not a bullish sign either.  Immediate support at 45.5c which approximates the position of the trendline support as well as the 20dMA.

AIMS AMP Capital Industrial REIT: A one lot buy up at closing prevented the formation of a gravestone doji. 21.5c has been established as the immediate support.  This REIT is still trading within a range and I would buy more if it trades closer to the support of the trading range at 20c.

CapitaMalls Asia:  Symmetrical triangle has yet to be resolved. Negative divergence between price and volume is glaring. MFI has been rising but OBV has been flattish. MACD is rising but is still in negative territory.  All these make the buy signal shown in MACD histogram suspicious.  $2.14 is the resistance to watch.

FSL Trust: I was wondering if this counter might form a bullish harami today.  Unfortunately, it's a gravestone doji. This counter is oversold.  In the event of a rebound, I see resistance at 39c and 44c.

Golden Agriculture: Nice up day.  We might see the price continue to rise tomorrow as there is respectable volume and price closed at the high of the day at 53c. Immediate support at 49c.  Immediate resistance at 55c.


Anonymous said...

Wah rally up for 2 days. Very tempted to get in. Shall wait for a clear direction to emerge before I enter. Sti doesn't seem to take it's cue from dj.


AK71 said...

Hi Mike,

I am wary of the rally. ;p The STI could very well form a lower high and we could still see it declining to the 2400 region.

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