Chart - Yangzijiang

YZJ is showing signs that it has run out of steam and is facing short term correction pressures. A possible swing ‘short’ trade with a target around 160-165 and a cut loss above recent high.

Chart - Straits Times Index (STI)

Let’s take stock of how the STI is performing. STI is showing signs of corrections and it will be confirmed by the parabolic being triggered together with the bearish crossover of the MACD. Watch out for those 2 technical signals, which I use regularly for swing trades.

Chart - Hiap Seng

It is extremely amazing how powerful DBS research is these days. It started with its buy call on Biosensors, followed by JES, followed by Hi-P and today it is Hiap Seng. All the stocks it covered “gap up” upon coverage.  Are the good old days are back?!?!  Anyway, Hiap Seng showed a long red candle today where it gap up on opening and then closed at its low. This is a bearish candle where short sellers can short with a buy stop slightly above today’s high. Do be careful if you are those who ‘buy at whatever opening price’ cos the good times won’t last forever.   

Chart - SATS

A possible swing trade back above $2.90-$3.00. With SIA doing so well, SATS shouldn’t be too far off as well. Happy trading.

Chart - FTSE ST China Index

This is the long term (5 years) weekly chart of the FTSE ST China Index. SGX is introducing the trading of ADRs next month where top China companies listed in the US will be allowed to trade on the SGX during the trading hours and you can then square off that same position in the US market. This is likely to boost interest from traders and investors who can trade in the more decent Asian hours and may also rekindle the “S-chip” sector. If you just look at the 52 weeks chart, you can see that the index is actually at one of its highest level but if you zoom out to a longer period, you can see that it is still a long way from its bubbly peak of 1,000 set a few years ago. Happy trading.

Chart - STI ETF

If you are someone who don’t believe in buying unit trust with expensive management fees (which rightly so), index investing is a much cheaper option and its performance is much better than most unit trust fund managers after including management fees. STI ETF is one of the method of “index investing” and is gaining popularity as a great diversification tool and yet participating in the market movement at the same time. Happy investing.

Chart - SPH

$4.20 for SPH proved to be a formidable resistance as it tested that price a few times. A break above that price will be extremely bullish as you can see a “cup-and-handle” formation. However, fundamentally, there doesn’t seemed to be any catalyst for it to do like unless it announce some “special dividends” due to its cash generated from property development?  The share price looks weak in the near term and likely to weaken in the coming days. Let’s see if can break the resistance in the next upswing.

Chart - TigerAir

Despite all the recent news report that Tiger is facing a shortage of pilots and a series of downgrades from research analysts, the share price of the company actually appeared to be resilient. The share price of Tiger Airways look set to ‘roar again’. A potential swing trade back to its recent high of $2.20.

Chart - Straits Times Index (STI)

Further to my post on 27 Aug 2010, STI managed to break its all time high today at closed at 3,066.

Let’s see how far higher it can move on from here. Cheers.

Chart - JES

JES is showing signs of “breaking out” towards 24-26 level after a long period of consolidation. It is in ‘tandem’ with other shipbuilders like Yangzijiang and Cosco which have been performing quite well lately. I guess investors are still not convinced if the company has managed to turnaround after a loss in 2009.

Chart - Genting SP

Further to my earlier posting on 16 Aug 2010, Genting hit the technical target mentioned on 1 Sep 2010. It is now showing signs of weakness with bearish divergences and dojis appearing. While it is not showing any reversals of trends, it is possible that the stock might take a short breather in the near term before resuming its uptrend.

Chart - Consciencefood

The company IPO recently at 22c and rose to a high of 30c before coming down back below its IPO price. A possible swing trade at 22c yesterday with cut loss below 20c and a swing target of 24-26c.

Chart - Hyflux

Back from my overseas trip and a quick update for Hyflux.

A possible swing trade back to the $3.20-$3.40 area with a cut loss below the $3 mark.

Valuation wise, it is trading at EV/EBITDA of 17.6x and PE of 21.3x for FY2010F and EV/EBITDA 13.1x and PE of 18.7x for FY 2011F at today’s closing price. Not exactly cheap.