Posts
CapitaMalls Asia: No follow through on what had seemed like a promising up day in the previous session as a wickless black candle was formed today. It is reasonable to assume from today's action that this counter is trapped in a narrow range between $2.33 and $2.28. When everyone finally tires of looking at the charts, this counter might just surprise on the upside.
Saizen REIT: Initial resistance remains at 17.5c. Volumes on down days have been relatively lower and this suggests a strong underlying support. A retest of 18c is still very likely. The descending 100wMA is also at 18c and this is likely to be a strong resistance.
Healthway Medical: Today's price action dashed the hopes of stale bulls. The counter's downward bias is re-asserting itself. Critical support remains at 16c.
SPH: Sell signal seen on the MACD. Big black candle day as price closed at $3.94. MFI is in overbought territory. A pullback should find initial support at $3.84.
Courage Marine: A premature attempt to move higher, it seems. Price ended unchanged. Any retreat in price should find support at 21c. I would accumulate on weakness as improving fundamentals make this counter more promising over the next few months.
AusGroup: Closed at 67.5c resistance level. Reached a high of 69c. Next resistance is at 70c. Price gapped up only to form a white inverted hammer which seems to suggest that fatigue is setting in. MFI has entered overbought territory. A perfect time to take some profit off the table? I think so.
Related post:
Charts in brief: 9 April 10.
Bloggy Award