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CapitaMalls Asia: No follow through on what had seemed like a promising up day in the previous session as a wickless black candle was formed today. It is reasonable to assume from today's action that this counter is trapped in a narrow range between $2.33 and $2.28. When everyone finally tires of looking at the charts, this counter might just surprise on the upside.
Saizen REIT: Initial resistance remains at 17.5c. Volumes on down days have been relatively lower and this suggests a strong underlying support. A retest of 18c is still very likely. The descending 100wMA is also at 18c and this is likely to be a strong resistance.
Healthway Medical: Today's price action dashed the hopes of stale bulls. The counter's downward bias is re-asserting itself. Critical support remains at 16c.
SPH: Sell signal seen on the MACD. Big black candle day as price closed at $3.94. MFI is in overbought territory. A pullback should find initial support at $3.84.
Courage Marine: A premature attempt to move higher, it seems. Price ended unchanged. Any retreat in price should find support at 21c. I would accumulate on weakness as improving fundamentals make this counter more promising over the next few months.
AusGroup: Closed at 67.5c resistance level. Reached a high of 69c. Next resistance is at 70c. Price gapped up only to form a white inverted hammer which seems to suggest that fatigue is setting in. MFI has entered overbought territory. A perfect time to take some profit off the table? I think so.
Related post:
Charts in brief: 9 April 10.
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4 comments:
Hi,
I'm new to investment and I hope to learn much from seeing how TA and FA are applied.
One recent stock which shot up was Cosco Corp. Could you analyse the company and what it's outlook is in the medium to long term?
Thanks.
TS
Hi TS,
From what I know, stocks like YZJ and Cosco went up a lot recently because of news of possible dual listings.
Doing FA and TA of specific companies takes quite a bit of time and, frankly, I would only do so for companies which interest or, at least, intrigue me.
I have many posts on FA and TA and you could use the search function in my blog's header to find all the posts. For FA, you could also start by looking at the links in a box on the right towards the top of my blog titled "Fundamental Analysis". For TA, you might want to get a couple of books that are easy to start with. See the box titled "Books I've read" also on the right towards the top of my blog. Have fun. :)
Hi AK71,
Thanks! I have been reading tutorials from investopedia.com and "The Warren Buffett Way" by Robert Hagstrom as well as Jason Kelly's "Neatest Little Guide to Stock Market Investing". Will check out your FA and TA blog posts too!
Looking forward to learning from u.
TS
Hi TS,
You are on the right track, I am sure. :) Investopedia is a site I still go to from time to time. Great stuff and it's free!
A great FA book is "Warren Buffet and the Interpretation of Financial Statements". You'd find this in the little box on the top right hand corner of this blog as well. ;)
I look forward to learning together with you. :)
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