Healthway Medical: Back at support.

On 20 Dec, I said "Healthway Medical closed the gap today at 15.5c. Am I expecting more downside? Share price is pulling back from almost overbought conditions and I do not expect any huge downward movement. Notice that the decline in share price has been on the back of reducing volume." Price closed at 15.5c support yet again today.

The MACD is approaching zero. Would it recover or would it cross into negative territory? The MFI has emerged from oversold territory and is rising gently, suggesting a return of demand, although weak. Volume has been relatively low.

The RSI has been forming higher lows which suggest a strengthening in terms of buying momentum based purely on price. The OBV is flat which suggests a lack of distribution and accumulation. Verdict? This counter seems to be consolidating and, at this point, it could go either way. I am not doing anything here.

Related post:
Healthway Medical: Closed the gap at 15.5c.

AIMS AMP Capital Industrial REIT: Sell down at 21.5c.

Someone asked me if I knew why there was heavy selling down of this REIT today. I do not have the answer. Checking the time and sale, 8,987 lots were sold down at 4.58pm, wiping out the entire buy queue. The OBV plunged yet again, indicating heavy distribution activity.

22c is, once again, resistance and immediate support is at 21.5c.

I will continue to accumulate at 21.5c and, perhaps, even 21c if the 200dMA should be tested as support. Fundamentally, buying more at 21.5c and 21c would give a handsome yield of 9.3 to 9.5%.

Choose Singapore REITs over developers: UOB KayHian
Friday, 14 January 2011

© 2011 - The Edge Singapore

Related post:
AIMS AMP Capital Industrial REIT: 22c support.

Old Chang Kee: Filling not enough.

We do not have to be housewives shopping for the family to know that prices of foodstuff are going up. I like buying the occasional curry puff from Old Chang Kee and today I found out that the curry puff is S$1.30 each! I thought it was still S$1.20 each. Anyway, I had a craving. What to do?

Back in the office, I happily took a bite and I bit into a cavity! Looking into the curry puff, I found it half empty! Really, I am not kidding. I took photos of the errant curry puff:

I was somewhat unhappy and amused as well. The price went up and the amount of filling reduced at the same time! What a combination! Maybe, I should buy Old Chang Kee's shares? Perhaps, this experience is an important part of FA. ;-p

CapitaMalls Asia: Plague, no more?

CapitaMalls Asia has broken out of its downtrend, closing at $1.92, two bids above resistance at $1.90. Volume increased as price strengthened.

We see a buy signal on the MACD histogram as both the MFI and RSI bounced off 50% support. OBV has turned higher, suggesting increased accumulation. More upside is likely.

The next resistance is a band between $1.95 and $1.98, as defined by the upper Bollinger, the candlestick resistance of end December 2010 and the descending 50dMA. Successfully overcoming this resistance band could see price going higher to where we find the 100d and 200d MAs.  These are now at $2.08 and $2.10 respectively.

Related post:
CapitaMalls Asia: Plagued by downtrend.