Charts in brief: 14 April 10.

A most sterling performance by the STI today as it surged 48.14 pts to end the session at 3,019.74 on heavy volume. People vested in NOL, DBS, UOB and SembCorp, just to name a few, would have made quite a bit of money.

Singapore shares end near 2-year high on surge in 1Q GDP
Wednesday, 14 April 2010

© 2010 - The Edge Singapore

CapitaMalls Asia:  Despite an impressive 1Q 2010 report, its share price barely moved and closed up 1c at $2.30 as it went XD.  Consolidation continues.
Earnings before interest and tax (EBIT) were $110.9 million for 1Q 2010, 174% higher than the $40.5 million for 1Q 2009.

CapitaMalls Asia records 1Q net earnings of $97m
Wednesday, 14 April 2010

© 2010 - The Edge Singapore

NOL: An impressive white candle day as price shot past the recent high of $2.24 to close at $2.30 after touching a high of $2.34.  We have a buy signal on the MACD.  OBV and MFI have both turned up. With such strong momentum, it is likely to power ahead.  Closing above $2.30 convincingly would give an eventual target of $2.60.

Golden Agriculture:  Another higher low formed on the MFI. Price action formed an inverted white hammer, another reversal signal.  Signals continue to be mixed for Golden Agriculture.  Will the improving buying momentum push the price higher?  Initial support has been established at 60c.  Channel resistance is at 64.5c.

Courage Marine: OBV turned up sharply as volume increased significantly.  Price closed up 0.5c at 22.5c, forming a long legged doji, a reversal signal, as it touched 23c, the previous high.  If the reversal signal is valid, price should find initial support at 21c.  If the chart pattern plays out (neckline at 21.5c), we should see gap resistance at 23.5c taken out and the chart pattern resistance at 25.5c tested with a possibility of a push to the eventual target of 27c.  Could we be seeing a beautiful symmetry in the making?

SPH: Volume expanded as price touched a high of $3.99, just 1c shy of the target of $4.00.  MFI has pushed deeper into overbought territory and OBV has turned up sharply.  Forming a white spinning top today as price closed at $3.97, will it push higher tomorrow?  $4.00 remains the resistance to watch.  If this is taken out, the next target is $4.20.  A retracement would find initial support at $3.84.

AIMS AMP Capital Industrial REIT: Buy signal seen on the MACD.  Price touched a high of 23c before closing at 22c on much higher volume. OBV turned up.  MFI has formed a higher low.  22c is still the resistance to watch but if price closes decisively above 22c in the near future, it would be resistance turned support.  23c is the immediate target.  Immediate support is at 21.5c.

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Charts in brief: 13 April 10.

Charts in brief: 13 April 10.

Golden Agriculture: A black spinning top.  This is the seventh reversal signal in a row and seeing how price action has detached from the upper limits of the Bollinger band, a retracement to supports is probable: 20dMA is at 58c and 50dMA is at 56c.  MFI formed a higher low but failed to form a higher high today.  The OBV shows a lack of strength in accumulation.  Of course, as usual, an upward movement in price with high volume would negate all bearish signals.  This does not look likely.

Saizen REIT: Some profit taking happening today.  17c is initial support.  If this goes, a much stronger support is at 16.5c.
Notice of a Director's (including a director who is a substantial shareholder) Interest and Change in Interest: 12-04-2010, Starich purchased 1,000,000 Warrants on the open market.  Mr Arnold Ip Tin Chee is one of the beneficiaries of a trust which directly own Starich. Hence, Mr Ip is deemed to be interested in the 1,000,000 warrants held by Kim Eng Securities Pte Ltd in favour of Starich.

Healthway Medical:  The counter traded at one price only today, 16.5c.  The Bollinger bands are squeezing, it seems, and this usually means an increased volatility in price action is not far off.  16c remains a critical support to watch.  On the face of it, things are not looking good for this counter.

SPH: A long legged doji confirmed the black candle sell signal from the previous session.  Sell signal confirmed on the MACD as well.  Price has detached from the upper limits of the Bollinger bands.  Support is at $3.84. 
SPH has declared an interim dividend of 7 cents per share.

SPH reports 30% rise in 2Q net profit to $113m
Tuesday, 13 April 2010

© 2010 - The Edge Singapore

Courage Marine: Although on signifcantly reduced volume, we have another black candle today.  With MFI in the overbought region and with OBV turning down, the probability is higher for the counter to retrace to support.  I see initial support at 21c.

AusGroup: In my last TA, I said "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." A big black candle day today as price closed lower at 66.5c.  However, of note is the much lower volume on this pullback. The selldown has been mild.  Any further selldown would find initial support at 63.5c

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Charts in brief:12 April 10.