Charts in brief: 5 April 2010.

CapitaMalls Asia: Buy signal confirmed on the MACD. OBV continues to rise, signalling accumulation.  MFI rose, signalling a return of buying momentum. Stochastics has turned up from the oversold region.  Price action formed a black spinning top with price closing at $2.31, still resisted by the 20dMA.  Volume remains anaemic and needs to expand to have a meaningful move up in price. Recap: CapitaMalls Asia: A late reversal?

Golden Agriculture:  Volume expanded as price pushed higher but it formed a bearish inverted hammer as price closed at 61c after hitting a high of 62c.  In the event of a pullback, it would be interesting to see if 60c could be a strong support.  Expectation is that it is early days yet for it to be so.  Expect strong support at 57.5c, a many times tested candlestick resistance and 50% Fibo line.
Recap: Golden Agriculture: Further divestment at 60c.

Saizen REIT: A nice bump up in price, closing at 17c and forming a dragonfly doji. This is the first time since 21 January that Saizen REIT has closed at 17c or higher.  All the momentum oscillators are rising and it might not be too much to hope that Saizen REIT would be moving higher sooner than later. Recap: Saizen REIT: 1627 lots bought up.

Healthway Medical:  A couple of readers asked me if I am still vested in Healthway as I have gone quiet on the counter.  I still have a smallish position in the company and I still look at its charts daily but there is nothing much to say.  The uptrend has clearly stalled and the counter is currently consolidating.  The 20dMA at 17c is now the new resistance and immediate support is at 16c, which is provided by the 50dMA.  The MACD continues to fall but the OBV is flat.  This suggests that buying momentum is weak but there is no obvious distribution.  So, I don't expect the price to crash but the consolidation could go on for a while. Recap: Healthway Medical: Touched 16c.

SPH: Closed at $3.88, high of the day, an obvious breakout from the very long term resistance at $3.82.  $3.82 was a support level that was breached in July 2008 and finally gave way in September 2008.  This is the first time since then that SPH has closed above $3.82.  It has been 18 months!  We will need confirmation that $3.82 is now resistance turned support.  Eventual target is S$4.00 in such a case.