Golden Agriculture: Resistance at 100dMA.

Golden Agriculture enjoyed a white candle day as price traded below the resistance provided by the 100dMA for most of the day. This white candle could be most misleading. In the previous session, although a black candle was formed, price closed at the 100dMA which acted as support.

So, am I saying that the share price would continue its fall in the next session? There is a good chance of this. However, due to the very steep fall in price in recent weeks, we could see the price moving higher to touch the trendline resistance which should be in the region of 73c in the next session or two.

TA is not about having a crystal ball and knowing exactly what would happen but TA is useful in that we would know exactly what to do if something happened.  So, in case price moved higher to 73c, I would reduce my long position. In case price moved lower, I would wait for it to go closer to the 200dMA at 63c before adding to my long position. That's my plan.

Related post:
Golden Agriculture: Testing 100dMA support.

STI off 1.3%; 3,090 worst case consolidation - DBS Vickers.

It adds, “equities remain one of the more attractive investment asset classes...in addition, the STI is not that far away from levels seen as attractive and where firm support lies.”

Monday, 31 January 2011

© 2011 - The Edge Singapore

Raffles Education: Correction?

The fanfare that pushed up the share price of Raffles Education to touch a many months high of 35c came suddenly and provided the counter with a sugar rush which is now dissipating. The trendline support was broken four sessions ago and it now remains to be seen if the gentler trendline support below the 20dMA would be tested next. This is at 30c.

If I were to hazard a guess, 30c is likely to be a strong support as that is the price which formed the top of a small bowl before a breakout took place. Market participants would remember the price: not buying then led to missing out on a nice gain in the following sessions.

The MFI and the RSI show that the overbought condition has been corrected. The RSI is actually declining towards 50% and it would be interesting to see if 50% would act as support. The MFI which takes into consideration volume on top of price has flatlined just below the overbought region. This suggests that demand, although weaker, is still strong. Look at the trading volume and we see a semblance of a low volume pull back taking place. Buy more?

For anyone who wants to go long on this counter, being patient and waiting to buy some at supports in an uptrend is a good idea. I never like chasing. I rather like waiting for things to come to me.

Related post:
Raffles Education: A new property play?

AIMS AMP Capital Industrial REIT: 21c at XD.

AIMS AMP Capital Industrial REIT went XD today. Price closed at 21c but if we look at the trade summary, 6,459 lots were bought up at 21.5c while only 197 lots were sold down at 21c. I believe that support is strong for this counter at 21c. Remember that 21c is also where we find the rising 200dMA, a longer term MA.

There is nothing fundamentally wrong with this REIT and I will accumulate on weakness. For now, I look forward to receiving the income distribution on 15 March 2010.

Related post:
AIMS AMP Capital Industrial REIT: 3QFY2011.

Singapore’s Straits Times Index dropped 1.6% to 3,179.72 at the close of trading, erasing this year’s advance. The gauge fell 0.3% this month. All but three stocks in the benchmark index of 30 companies fell.
Monday, 31 January 2011

© 2011 - The Edge Singapore

ASSI 2010 Annual Report.

I am somewhat late in doing this. Somehow, it slipped my mind. Someone reminded me and, well, this is the report of how my blog did last year as promised.

Page loads, unique visitors and returning visitors all formed new records in the month of December 2010. The numbers in the chart are kind of small as this is a full year report. Let's see:

Page Loads: 
52,493 (92.87% increase from January 2010)

Unique visitors: 
32,169 (166.98% increase from January 2010)

Returning visitors: 
15,643 (175.89% increase from January 2010)

I think there are many who would come in to check on what are my latest thoughts on a daily basis which probably explains the 175.89% increase in returning visitors as well as the more modest 92.87% increase in page loads. Most are regular readers who would probably have read my older posts.

Although I am sure my blog would never be as popular as Xiaxue's or Mr. Brown's, that the number of unique visitors increased 166.98% from January to December 2010 is very encouraging. 32,169 unique visitors in December means there were more than 1,000 unique visitors per day on average.

I have said this before but no matter how many times I say it, it would never be enough: I have no doubt that I have some very loyal readers who are spreading the word.  Your support is encouraging and you can bet that I will continue blogging!  Thank you. :)