Charts in brief: 24 May 2010.

STI gains 0.8% to 2,723.87 at closing
Monday, 24 May 2010

© 2010 - The Edge Singapore

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.

Tea with AK71: Movie going.

When I was a NSF years and years ago, a common activity in the evenings was to go to Yishun 10 and watch a movie.  In those days, we could buy a stored value card and it was only $5.50 per ticket, effectively.  Then, some criminally minded tech genius found out how to clone the cards and Golden Village stopped the sales of such cards. Pity.

If the camp was not so far away from my home in those days, I might not have gone to the movies so often.  I would have preferred to go home in the evenings, I guess. Since we had to go back to camp by 11.59pm at night, it just didn't make sense for me to make the long commute both ways.

I remember one evening, I went to the cinema and found that I had watched every single movie there was to watch at the time.  Yes, even those which I didn't think I would enjoy, I'd watched. That's how good a customer I was for Golden Village then.  During that time, I got used to watching movies on my own and actually enjoyed it.

I don't go to the movies as often nowadays.  If I do go to the movies, I would go with friends or family. However, I recently watched a movie alone.  That was IP MAN 2.  Watching a movie alone again brought back memories of my NS days. I might watch Shrek 3 alone too.