Gong Xi Ni Fa Cai!

With the Chinese New Year just two days away, I would like to extend my heartiest GONG XI FA CAI to all visitors to my blog.  May the new year bring you the best of luck and may all of us HUAT big time.  HUAT AH!!!





For my sister who wants to go see the Sakura flowers in Japan!




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SPH: Promising signs.

On 9 Feb, I said: "SPH is, technically, the strongest blue chip here. Today, I made an interesting observation. Dare I hope? It looks like a symmetrical triangle is forming in SPH's price action of late. Look out for the MACD (blue line) closing in on the signal line (red line) as it might mean that it is ready to form a bullish crossover. This would mean that price would probably break out higher . With MFI forming a higher low, the buying momentum has an upward bias. I guess a bit of hope doesn't hurt."
Please see: Small, mid and large caps.

SPH continues to move higher and closed at $3.74, above the 20dMA, today.  MACD is rising and closing in on the signal line.  Will it form a bullish crossover this time?  That the MACD is still above zero indicates that the upward momentum has yet to be compromised.  MFI has risen above 50% and it now remains to be seen if it will form a higher high.  Breaking out of the symmetrical triangle could possibly see a higher high formed for this counter at $4 or so.  Heavily vested.  Crossing fingers.

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Golden Agriculture: Delivering the goods?

In a previous post on 10 Feb, I said, "That its correction is at an end is quite evident as it has emerged from its recent steep downtrend resistance. It is consolidating and signs are that price might be getting ready for a move upwards. Initial resistance is provided by the 50dMA and 20dMA at 52c and 53c respectively. In an upward move, these resistance are likely to be swept away. More meaningful resistance are at 55c and 59c."
Please see:  Golden Agriculture: Reversal at hand?

Today, price action formed a strong white candle to close at 54c.  This happened on the back of expanded volume which promises more upside in the next session.  The MACD has made contact with the signal line and a bullish crossover is inevitable.  MFI continues to turn up and approaches 50%.

The first meaningful resistance at 55c has a high chance of being tested in the next session.  59c is a realistic target in the event that price continues to move up which seems likely enough.  I have a strong vested interest in this counter and I am hoping for the best.


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Healthway Medical: Oversold

For those of you who are beginning to wonder if the decline will ever stop, remember I said that every lower support becomes stronger in a situation where pullbacks happen on lower volume.  MFI took a sharp dip today into oversold territory even as the MACD has a buy signal, the first in more than 2 weeks. 

Remember that TA shows where the supports and resistance levels are.  It does not mean that those levels would be reached.  For anyone who wants to go long here, it might be a good idea to hedge at 13.5c instead of waiting for 13c to be hit, which might or might not happen.  Remember, this is a hedge, there is still a chance that 13c might be reached.

Healthway Medical: Breaking an important support.

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