China Minzhong: Pushing higher.

To any chart watchers, it is obvious that China Minzhong's share price has broken out of resistance.  From here the immediate resistance is provided by the declining 100dMA which is currently at 73c. It could approximate 72c in the next few sessions.

Overcoming the 100dMA could see a test of resistance provided by the 200dMA which is also declining but more gently so. The 200dMA is at 83c. The last time the 200dMA was tested was earlier this year in February.

With all the momentum oscillators up sharply, the worst is over for China Minzhong's share price, it would seem. MACD suggests a return of positive momentum. MFI suggests demand is stronger. OBV suggests robust and continuing accumulation.

It has to be said that a longer term downtrend that started in early 2011 is still intact. So, traders ought to be careful and watch the longer term resistance.

Related post:
China Minzhong: Crossroads.

Sound Global: Retest of resistance likely

On 7 July, I said that the technicals suggested it could be time to sell Sound Global's shares and that if price were to move higher, it would be a slow grind upwards. This picture has, essentially, stayed intact till now as its share price has been stuck at resistance, not being able to move convincingly above 61.5c, a many times tested resistance in the last few months.

Mr. Market is feeling slightly bullish of late and, so, could his attention move to Sound Global?

The company's fundamentals are strong and with sentiments improving, there is a chance that its share price could move higher. A retest of resistance at 61.5c looks likely. However, whether resistance could be taken out would depend on volume which has been rather low.

After 61.5c, the next major resistance is at 68c.

Related post:
Sound Global: Would I buy now?

Sound Global said it has agreed to undertake the second phase to expand the existing capacity as well as to increase the existing discharge standard of the wastewater treatment plant BOT project in Jingbian County, Shaanxi Province, China.

Sound Global wins Shaanxi wastewater treatment plant BOT project for $16m
Friday, 03 August 2012

© 2012 - The Edge Singapore

Ben & Jerry’s Chunkfest!

Have you been to an ice-cream beach festival? Ice-cream what? Yes, an ice-cream beach festival!

Featuring 15 exclusive and specially flown flavours from around the world as well as our favourite flavours in Singapore, there will be fun, games and activities for everyone. And to top it all, we are also introducing a brand new flavor at the event this year!

Join us from 2pm to 10pm on August 25, 2012!

Follow this link for full details: Ben & Jerry's Chunkfest!

Saizen REIT: Beefing up distributable income.

Saizen REIT has been adding apartment buildings to its portfolio since resolving the CMBS for YK Shintoku. This will go some way to ameliorating the expected decline in DPU due to warrants exercised earlier.

Since my blog post of 26 May 2012, Saizen REIT's unit price has been rising gradually, hitting a high of 16c just two sessions ago. Mr. Market has recovered from his anxiety and is making up for over selling the REIT back in May, it seems.

For anyone who has missed the boat and is thinking of jumping in now, I would say that the risk premium is higher now, obviously. In the last two years or so, the highest Saizen REIT's unit price went to was 18c, if I remember correctly. Would its unit price push to test 18c again? I am almost confident it would but when would it do so? That, I cannot say.

If the REIT's unit price should decline, there are layers of support with longer term supports clustered at 14.6c, 14.4c and 14.3c. The shorter term 20dMA is at 15.4c. People anticipating its half yearly income distribution which is payable sometime in September and to be announced this month could be eyeing the 20dMA. So, the support, if tested, could show some strength in the near term.

Related post:
Saizen REIT: Why did I buy and would I buy more?

Japan Residential Assets Manager, the manager (of Saizen Real Estate Investment Trust (Saizen REIT),said associate Godo Kaisha has agreed to acquire of Rise Yotsugibashi (RYB) from an independent party for JPY 428 million ($6.8 million).


RYB is a brand new building built in June. It comprises 49 residential units, three car parking lots and five bicycle lots....


RYB is currently in the process of being tenanted. It is expected to generate annual revenue and net property income of JPY 36.3 million and JPY 27.5 million respectively, which are equivalent to about 0.9% and 1.1% of Saizen REIT’s annual revenue and net property income in the financial year ended 30 June 2011 (FY2011).

Saizen REIT acquires residential apartment for $6.8m
Friday, 03 August 2012

© 2012 - The Edge Singapore