Charts in brief: 27 April 10.

STI drops 0.4% to 2,991.68 at closing
Tuesday, 27 April 2010

© 2010 - The Edge Singapore

AIMS AMP Capital Industrial REIT: This counter has formed two dragonfly dojis in a row.  Look at the OBV and we see steady accumulation as steps are formed upwards. The MACD continues to pull away upwards from the signal line.  This is a REIT with strong numbers and technically, it has limited downside as well.  Still one of my favourite high yields.

CapitaMalls Asia: A white hammer! Another reversal signal! Dare I believe it? $2.12 support identified in earlier TAs was hit today.  Closing at $2.15 is actually closing at resistance.  So, if this is indeed a reversal signal, there should be confirmation tomorrow.  Let's see.

Golden Agriculture: Volume expanded on a black candle day as price closed at 60c, the support provided by the 20dMA. If this support breaks, the next support is at 57.5c. The many times tested resistance at 62.5c remains the immediate upside target.

Healthway Medical: The declining 20dMA has made contact with the 50dMA. A dead cross is imminent. Price touched a low of 15.5c, a price the counter has not seen since 3 Mar this year.  That this happened on much higher volume is ominous. MACD is under zero which suggests that the positive momentum is over. This is confirmed by the declining MFI, forming lower highs. The positives? OBV is flat which suggests a lack of accumulation AND distribution.  Stochastics shows a deeply oversold situation. So? I do not expect any crash in price but a gradual drift downwards is probable, in the absence of any positive catalyst.

China Hongxing: Much lower volume.  OBV flattened.  Price unchanged. MFI and Stochastics are still declining and seem ready to move into oversold territory.  For now, it seems that the selling pressure has abated but the technicals are definitely more negative overall. Any upside will meet with resistance at 15c, provided by the 20dMA.

Courage Marine: OBV turned up ever so slightly on a white candle day. It could very well have been a doji since only 2 lots were done at 23c at closing, seemingly in an effort to form a white candle. That price action has detached from the upper limits of the Bollinger band is obvious.  This usually suggests that the uptrend has lost momentum. In case the price does continue moving higher, 23.5c remains the initial resistance, followed by 25.5c and 27c.  Initial support is at 22c.

Suntec REIT achieves DPU of 2.513 cents for 1Q
Tuesday, 27 April 2010

© 2010 - The Edge Singapore

U.S. Finally Starts Dumping Citigroup
-- Smart Move, Tim Geithner!
Posted Apr 26, 2010 03:30pm EDT by Henry Blodget

 
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Charts in brief: 26 April 10.

Charts in brief: 26 April 10.

Singapore recovery becoming broad-based, entrenched, Lim says
Monday, 26 April 2010

© 2010 - The Edge Singapore

STI gains 0.5% to 3,002.62 at closing
Monday, 26 April 2010

© 2010 - The Edge Singapore

CapitaMalls Asia: Reversal signal from the last session was negated today.  This is becoming a habit for this counter. Price closed at $2.15, a 123.6% Fibo support.  Further weakness would bring in $2.12, $2.10 and $2.07 as supports as suggested by Fibo lines.  MFI and Stochastics are firmly in oversold terrritories. MACD is still moving downwards away from the signal line.  It is my guess that when the MACD starts closing the distance with the signal line, that is when we are closing in on a genuine reversal.

Golden Agriculture: The move up today was unconvincing.  Lower volume formed a hangman. The lack of volatility in recent sessions is obvious as the Bollinger bands begin to converge.  Price will have to move in one direction soon.  OBV shows continuing accumulation while the MFI has been exhibiting higher lows and higher highs.  MACD is above zero but is somewhat sluggish.  The leaning is towards a move upwards and any retracement should find initial support at 60c, followed by 57.5c.

Saizen REIT: Price action is trapped between the 20dMA and the 50dMA at 17c and 16.5c, respectively. Nothing exciting is happening.  OBV is flat.  MFI is declining.  Stochastics has flattened. Longer term uptrend is still intact.

Courage Marine: MFI has emerged from the overbought region. OBV is flat. MACD has made a bearish crossover with the signal line. All signs suggest that we are seeing weaker holders giving up their positions.  Initial support is at the 20dMA, 22c.  For the more cautious, waiting to see if the 20dMA is able to hold up is a good idea as the next support in case the 20dMA gives way is at 20c which is some way to fall.  Of course, it might be a good idea to hedge, as usual.

NOL says container shipping volumes up 32% and average revenue up 12% in Period 3
Monday, 26 April 2010

© 2010 - The Edge Singapore

China Hongxing: It seems that the sell call in my last TA was spot on.  OBV down.  MFI down although not oversold yet.  MACD formed a bearish crossover with signal line and is beneath zero. Volume expanded enormously on a black candle day. The lows of 27 April and 23 June 09 which were at 12c might soon be tested if the selling momentum persists.  Any rebound in the meantime would find a cluster of resistance at 15c, 15.5c and 16c.  Not for the faint hearted.

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Charts in brief: 23 April 10.

A movie: How to train your dragon (Part 2).

LP commented last night that he found this movie very good.  I agree.  He got to watch the 3D version.  I'm envious.  I was going to watch the 3D version but I had discount coupons and they could not be used for the 3D version.  I am so tempted to go back and watch the 3D version.  Watch the movie a second time? Why not?  I remember some of my female (and male) friends watched "Titanic" four or five times!

'Dragon' wings it back to No. 1 with $15 million
'How to Train Your Dragon' wings it back to No. 1 with $15M; 'Back-up Plan' finishes second
David Germain, AP Movie Writer, On Sunday April 25, 2010, 2:27 pm EDT

LOS ANGELES (AP) -- "How to Train Your Dragon" continues to breathe fire at the box office, while newer releases are mostly blowing smoke.

The DreamWorks Animation adventure took in $15 million to reclaim the No. 1 spot in its fifth weekend of release. "How to Train Your Dragon" opened in first place in late March, then dropped back into the pack. But it has held up strongly and climbed to the top again amid a flurry of so-so new releases.

The tale of a Viking youth and his pet dragon raised its total to $178 million and is on its way to becoming a $200 million hit.

Premiering weakly at No. 2 with $12.3 million was Jennifer Lopez's romantic comedy "The Back-up Plan," released by CBS Films. Another comedy, Steve Carell and Tina Fey's "Date Night" from 20th Century Fox, held up well to finish at No. 3 with $10.6 million, raising its total to $63.5 million.

Among the weekend's other newcomers, the Warner Bros. action flick "The Losers" flopped at No. 4 with $9.6 million. Disney's nature film "Oceans" had a solid opening for a documentary, coming in at No. 8 with $6 million.

"How to Train Your Dragon" nearly regained the No. 1 spot the previous weekend but wound up a close second to Lionsgate's superhero comedy "Kick-Ass." In its second weekend, "Kick-Ass" slumped to No. 5 with $9.5 million, down 52 percent from its debut, lifting its total to $34.9 million.

Read complete article here.

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A movie: How to train your dragon.

Tea with AK71: Be kind to ourselves.

I just read an article by Wilfred Ling titled "Silent pain from an insurance agent".  You can read the article here. It is a rare peek into the life of a rookie insurance agent and his angst.

Rare indeed is it for a person to find a job he is actually interested in, grows to love and makes a comfortable living out of it. I believe that many muddle through their careers and endure hardships and even disillusionment, just like this insurance agent.

Personally, I have a simple philosophy in life: "Be happy.  As long as you are not hurting anyone while being happy, you're doing fine."  Of course, sometimes, life throws us into a hole and prevents us from being happy.  What do we do? Climb out of the hole and start afresh.

There may be some truly compassionate and altruistic beings in this world but, generally, no one will take care of us. We have to take care of ourselves. Nobody owes us a living.

If others are cruel to us, we have to love ourselves more. Do not hurt ourselves further by staying on and allowing that cruelty to continue unless there is a REALLY good reason to do so.

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When the Going Gets Tough, the Tough Get Going:
Maria Bartiromo on the Keys to Success
Posted Apr 23, 2010 05:01pm EDT by Tech Ticker