McDonald's Chilli Chicken McGrill.

If you like things hot and fiery, you’ll love the new Chilli Chicken McGrill from McDonald’s.

It comes with a whole chicken thigh in a spicy new marinade. Grilled to tender perfection. Then topped off with fresh whole-leaf lettuce, and a gourmet sourdough bun.

Try this taste made better for Singapore and those with fire in the belly! Need more encouragement? It’s now available at a better price!

Available for a limited time only: click here.

Do it before it is all gone!

Noble Group: Caught a falling dagger?

Today, for the first time ever, I became a shareholder of Noble Group. I will confess that I do not understand the business and that going long here is taking on quite a bit of risk. Then, why did I do it? Let me share with you what's on my mind.

The share price of Noble Group is, undoubtedly, in a downtrend. I drew two trendlines, one connecting the lower highs and one connecting the lower lows. A down channel becomes quite clear. I see the channel support at $1.78 and that explains why I put in a buy order at that price, which was filled in the late afternoon today.

That a big black candle formed on the back of heavy volume is very ominous and it would not surprise me if the share price were to sink even lower next week. So, why take the risk of going long now? Why did I not cancel my buy order? After all, it was only filled late in the afternoon.

Well, the fact that the share price tested channel support alone would not have enticed me to enter. The MACD which looks like it has a nice chance of forming a higher low is an important factor too. Therefore, even if the price were to sink lower, as long as the MACD forms a higher low, we would have a positive divergence.

Am I not pre-empting then? Yes, I am and, yes, I agree that disciplined traders should not do that. I have said before that I am not a good trader and this is still true. After all, there is a chance that the MACD could form a lower low which means no positive divergence.

If the share price were to move higher next week, I would use the declining 20dMA as a guide to determine a price for divestment. Price could move higher to test resistance as provided by the trendline as well. I guess it is up to the individual to decide how much risk he is willing to take and how much gain is enough for him.

In the event that the share price were to move lower, I would not rush to average down my price, I would wait and see how things develop. Losing money in a trade is not as bad as losing our cool because of one.

NOL: A white candle.

A white candle formed on NOL's chart today. For most of the day, I saw a black spinning top after its share price gapped down at the start of the day. So, the rather large buy up, after market closed, which pushed up NOL's share price to close 1c higher was somewhat surprising.

However, the white candle was formed on lower volume compared to the previous session's black candle. Share price could possibly have risen due to short covering and not because of an abundance of buyers.

The white candle also did not manage to cover even half the length of the previous day's black candle. So, a white candle is nice but it might not mean that NOL has found its base.

Share price did touch a lower low today at $1.41 while the MACD flattened. This is encouraging. If the MACD should turn up clearly in the next session or two, we would have the positive divergence which I mentioned in my previous blog post on NOL.

Now, the MACD is a lagging indicator which is the case with other momentum oscillators. So, I would use Fibo lines to help suggest where I might find stronger supports for NOL's share price in case of further weakness.

I see the golden ratios at $1.39, $1.375 and $1.36. I could possibly add to my long position at these prices if they were ever tested as the chances of a positive divergence forming are rather good.

CapitaMalls Asia: TA update.

CapitaMalls Asia's share price did not experience the kind of explosive upswing Capitaland's did in the last session. However, it looks promising too in a subdued way as volume was pretty decent as price moved up a bit.

Daily:

 Weekly:

We could see gap closed at $1.55 in time. This would probably also coincide with the declining 50dMA sometime next week. Judging from the highs in the last two rebounds, the declining 100dMA or 20wMA are the ones we should keep an eye on.

In a very strong rebound, we could see price going above the 100dMA and testing the downtrend resistance. Regular readers probably know what I would do in such a case.

NOL: TA update.

NOL has been one big disappointment. So, is this the fault of the counter? Nope. We can only be disappointed if we have expectations and when they are not met. It was a mistake and I will accept it as such.

However, downtrends are rivers of hope. NOL's share price could be overdue for a rebound. This does not mean that I think a rebound is imminent though.

Look at the daily chart and we could see the potential for a double bottom set up or a positive divergence. Wait to see if the recent low of $1.44 would be tested again. If it were to happen on much thinner volume before turning up, it would be good news for bulls. Or if a lower low in price were to be formed with a higher low on the MACD, we would have a positive divergence. In either scenario, we could have the conditions for a rebound which could test resistance provided by the declining 50dMA which coincides with the downtrend resistance.

In a downtrend, sell at resistance.

Capitaland: TA update.

What an amazing run up Capitaland's share price had in the last session. That the run up was accompanied by huge volume is good news for bulls. Short sellers were probably scrambling to cover their positions in the last session, surprised by the buying strength.

Anyone who added to their long positions or initiated one in the last few sessions would be wise to search for exit points, if they have not done so already. Why? Make no mistake, Capitaland's share price is still in a downtrend. Only if it were to break out of resistance provided by the declining 100dMA in a convincing manner could we say that the downtrend is broken.

Resistance provided by the declining 100dMA? Divest at resistance? In a downtrend, that would be conventional wisdom and something I would do.