H30.SGX_Bullish Breakout Trade_LongENTRY: 0.99
SL: 0.93
TP1: 1.02
TP2: 1.07
- ADX>20
- Daily RS -ve
- Daily FFI +ve
- Weekly RS +ve
- Weekly FFI +ve
- Moving averages are aligned.
- Triangle pattern with buyers-in-control.
- Narrow price range leading up to today's breakout with volume.
- Entry today based on breakout and >3% rebound off 10EMA with volume
[Analysis] Wilmar, consolidating but...Wilmar, the big cap (at least by Singapore's standard) agriculture/soft commodity counter on SGX. This is the only option you have on SGX unless you want exposure to the more manipulated or less diversified businesses like IndoAgri, Bumitama Agri, Golden Agri, etc...
Yet, compared to its US counterparts like Archer Daniel Midland or Bunge Limited, Wilmar is severely underperforming.
4.00 has been a long-term support since Oct 2020 which act as a launchpad for a rally to 5.64
Wilmar rallies from 4.00 again in Dec 2121, but this time, it only reaches 4.89. This is a hit of a lower high.
Since June, the price is now consolidating again at 4.00. Its earning euphoria rally on 05 Aug 2022 was stopped dead in its track. This is not surprising as selling has been seen at 4.20-4.30 as early as May.
This resistance at 4.20-4.30 may be hard to break. Between this resistance and the support at 4.00, this is an extremely narrow range to play. Price may get stuck within this area until the sell side or buy side takes over. 4.00 is the crucial support level if you are looking to buy.
If the price breaks down below 4.00, bulls should be careful.
If you want to play soft commodities, US have better options and they perform better
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Singapore Airlines C6L Targets $7.05The long signal on the day charts at 5.29 on 180722 puts SIA on a multiple timeframe uptrend with a target of $7.05.
Long term REBOUND since 01 March 2021
Medium Term UPTREND since 11 Oct 2021
Short term REBOUND since 18 Jul 2022
PIVOT 5.17
Long positions above 5.17 for 7.05 and 8.68
Short positions below 5.17 for 4.96 and 3.98
U96.SGX_Bullish Pullback Trade_LongENTRY: 2.88
SL: 2.75
TP1: 3.04
TP2: 3.20
- ADX<20. Would like to be higher.
- Daily RS +ve
- Daily FFI +ve
- Weekly RS +ve
- Weekly FFI +ve
- Moving averages are aligned.
- Stoch RSI rebounding off 30.
- Brokeout previously on 7 Apr 2022 with volume and retraced to resistance-turn-support area.
- 17 Jun 2022 hammer candle shows potential buyers coming in.
- Entry today based on >2% rebound off 10EMA with volume
Geo Energy poised for rebound.Analysis08 July 2022 | Timeframe: 1D | Price $0.36 | Support $0.35 | Resistance $0.43
Geo Energy Resources Ltd. closed 08 July 22 at $0.36. The key support level for the stock is seen at $0.35. As seen from the chart, the stock has been well supported at this level since 17 Jun 22. It has tested the $0.35 level 4 times on 17 Jun 22, 20 Jun 22, 06 Jul 22, and 07 Jul 22. This form a double bottom formation indicating buyers are taking over control of the price at this level.
Key resistance level is seen at $0.43. The stock tested this level from 30 May 22 to 09 Jun 22 on several occasions and reached a high of $0.435 four times on 30 May 22, 31 May 22, 03 Jun 22, and 08 Jun 22. Prices then rejected this level and went to a low of $0.35 on 17 Jun 22. This key resistance level was also seen on 15 Oct 21 when prices tested $0.43 and went down 38.37% to $0.265 on 29 Nov 21.
Latest MACD reading is a positive 0.002. The MACD Line is at -0.018 while the Signal Line is at -0.02 showing a positive gap reading between the MACD and Signal Line at 0.002. A positive MACD reading indicates that there is bullish momentum, and this is reflected in the MACD Histogram where bars are above the 0 baseline. If the MACD Histogram were to rise further, this will expedite the buildup of bullish momentum.
The 14 days RSI reading at 36 shows weak momentum and does not provide a clear signal. Traders should wait for the RSI mover closer to the 30-point reading indicating an oversold signal before committing to a reversal upwards back to the resistance level of $0.43.
Volume will also be another indicator to watch as on the previous two occasions on 21 Jan 22 and 25 Feb 22, a sudden spike in daily volume from the previous day will tip some indicators to flash buy signals for traders to enter.
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