Key levels to watch on City DevPrice is testing a key support area, a break below the downside could open room for a further drop. Alternatively, we could be seeing a push up to test our descending trend line and resistance before a reversal.
UMS (SGX: 558) LONGOverall:
1.Semicon themed stocks are in play
Fundamental:
1.Expected improved company growth and earnings despite COVID-19
2. Management generous in their dividend payout in the past
3. High net margin (30%)
Technical:
1. Broke and sitting at resistance of $1.
2. Uptrend for both 50MA and 20MA
DBS ShortShort DBS:
Fundamental:
1. Dividend cut
2. ECL loss expected
3. NIM compressed
Technical:
1. Price break 50MA
2. MACD downtrending
3.Gap down on 30 Jul 2020.
Target $17
SIA - The New Normal of Airline TravelFlying will be a necessity for those who needed, it won't be fun and easy as before. A lot of cumbersome paperwork, travel approval, and COVID test is needed for international travel at the moment.
As per a survey conducted by the IATA, while the overall booking for airline seats are down by 82% year on year in June 2020 compared to June 2019, the long-haul forward bookings for the first week in November 2020 are 59% below normal levels.
Furthermore, unless SIA defers some of its aircraft deliveries, it is likely to require further funding in FY22.
What's next for SIA?
Potential Long positionLower time frame shows a price rejection with a bullish inside bar for lower prices before the day ends on 30 July. Price is also currently along with the ascending triangle with higher lows since April. It is now on the previous resistance turn support price and it is possible to wait for further confirmation on long signals when price crosses the retracement trendline. Alternatively, if individuals feel it is an opportunity and there are enough multiple consensuses to long, one can choose to buy at the current price of 19.77 and set their stop loss at 18.47, if a long position is a success, exit trade at $23.94 or as long as price falls below 10 EMA.
DBS facing bearish pressure Price is facing bearish pressure from our descending trend line, a test of our sell entry could see a reversal from here.
DBS - BREAKDOWN & GAP DOWN1) This news contributed to the sell-down
www.bloomberg.com
2) I said previously to trade in the direction of the breakout in prices
3) Do not long until a bottom pattern has been reached, which could be as low as $13.60
DBS breaks support. Expose 19 Zone.DBS breaks 20 level support
Gap down with heavy volume.
Retailer Chip increase.
Wait for reversal signal near 19 Support zone.
AP4 - Riverstone Ascending TriangleThe ascending triangle has formed, Riverstone heading to possible breakout. Let us await a positive trading signal at 3.80!
DBS keeps breaking down in small steps...Really painful to see a large (relative to Singapore) bank break down slowly like that...
Technically, it reeks of a bearish bias, but is not advancing with commitment. Instead is slowly breaking down the supports, from the trendline to the widening wedge, and yesterday, a critical level to close at a lower low (after a lower high weeks ago).
It is possible for a short bounce to 20.80 now, but downside bias remains, probably to continue after a bit of consolidation, if at all.
As DBS is a main component of the Strats Times Index, STI, there is correlation in the apparent weakness.
Singapore Airlines at lowest post 9/11I'm not sure what happened on January 1, 1993, but on that day Singapore Airlines saw its first jump over the $3 range. Now trading at $3.53, I don't see the Republic of Singapore giving up on this flagship brand. Strong buy for long term. 2020 Q1 Earnings report may create a further dip on heading into the weekend.
Wilmar breakout from Rounding bottom with VolumeCompleted a rounding bottom pattern.
Breakout with volume.
Potential Rounding bottom first target 5.3
OCBC facing bearish pressure, wait for pullback to go short Price is facing bearish pressure on the larger time frame. On the H4, a pullback to test our sell entry could present an opportunity to go short.
Keppel facing bearish pressure, wait for pullback to short Price is approaching a key support level where we could be seeing a bigger pullback to test our sell entry before a further drop. A break below our downside confirmation level opens room for a bigger drop.
DBS - Breaks trendlineBreaks trend line and stay below Ribbon indicator.
Banker's chip reduced.
Banker's Moving Average heading down about to cross below Retail Moving Average (Deadly cross)
Venture pullback before further bounce Price could see a larger pullback to our buy entry which is a strong support area before we see a bounce.
DBS facing bearish pressure Price broke a key support level previously and a test of this level could present an opportunity to go short before a further drop. What are your thoughts on this stock?
Riverstone - uptrend intactAfter about 2 weeks of consolidation, Riverstone formed a bullish divergence last Friday, confirmed upon the stock trading about last candle high @ 3.26 today. More upside to go. The trend is your friend!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
<TradeVSA> Continuation on Mark-Up stage. UMS (558.SG)Strength signal in the chart:
1. Green pentagon high volume
2. Re-accumulation
Hit the "LIKE" button to support us :)
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
DBS - LongCurrently on a bearish trend, coming close to the resistance line of around 20.41 If it break out and move upwards, we should see a upside of around 21.70 around 10 Sep 2020.
30 Oct would reach around 23.30 where we will test the next resistance.
factors that may impact its performance.
Pros
GSS
How fast the programs implemented by Government / STB to stimulate spending
Additional Stimulus if provided by Government to jump start the economy through programs / grants
Cons
Global economy trade impacted due COVID19
US & China rising tensions
increase in defaults on the corporate side.
