C09 trade ideas
City dev is testing support, potential bounce Price is testing support in line with our ascending trend line where we could see a bounce above this level.
CityDev is approaching support, potential bounce Prices are approaching our first support in line with our ascending trend line where we could see a bounce above this level.
C09 (SGX) - Bearish trendGreetings
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Analysis
C09 (SGX) - Bearish trend
City Development is facing bearish pressure, potential reversal Price is facing bearish pressure from our first resistance in line with our graphical overlap resistance, 100% fibonacci extension and 61.8% fibonacci retracement where we could see a further drop below this level.
City Dev could see limited upsidePrice is facing bullish pressure from our first support in line with our horizontal pullback support, 78.6% fibonacci retracement where we could see a bounce above this level to our first resistance target. Our 20 EMA is showing signs of bullish pressure as well, in line with our bullish bias.
CityDev could see a pullback to test support Price is facing bullish pressure from our support and a pullback to test our buy entry could see a further bounce above this level.
CityDev is still trading below the resistance line! CityDev is still trading below the resistance line! Our MA20 vs MA50 still shows that price is on a downward movement. Any idea when this drop could end ?
CityDev is approaching resistance, potential reversal Price is approaching resistance where we could see a reversal below this level.
CityDev is approaching support Price is approaching support where we could see a bounce above this level.
CityDev approaching support, potential bouncePrice is approaching our support where we could see a bounce above this level. As long as prices hold above this level, I maintain a bullish bias. Love to hear your thoughts on it!
Citydev Range Trading From technical point of view, should see price consolidation between $6.80 - $7.10.
Look to trade within the range.
Long on valuation perspective
1) Sell off due to Director resign on disagreement over Sincere Property Group & Millennium & Copthorne Hotels
2) Concern not new, review from External Financial Advisor might help to ease concern
3) Based on 1H20, Cash holding at SGD 2,392,024,000 ( Cash per share S$2.63)
4) NAV @ $11.66/ share
CityDev key levels to watchPrice is testing a key support where we could see a pullback to test our resistance level, as long as prices hold below the descending trend line, overall direction remains bearish for me, a break below this key support area could see a further drop to our next support level.
CityDev is approaching resistance, potential reversal Price is approaching resistance where we could see a reversal below this level, a break below our intermediate support could see prices push lower.
City Dev approaching resistance, potential reversal Price is facing bearish pressure from our first resistance where we could see a reversal here. What are your thoughts on this?
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.
CITYDEV testing support, potential bouncePrice is facing bullish pressure from our ascending trend line, 50% and 78.6% fibonacci retracement and 100% fibonacci extension where we could see a bounce above this level.
SGX CityDev Longstock is in an uptrend with price near lower bound of uptrend channel. potential to long with entry @ 7.70 and stop-loss @ 7.42 and profit-taking @ 8.01
CityDev - Time to Long again?Citydev broke down form a bearish H&S formation just 2 weeks ago and with the extremely bearish market sentiment this week, slammed into a support area (horizontal mid term support plus a long term trendline) and closed just above the supports. Looking to long it next week just above today's close at 8.28 with a Stop a few pips below the last low at 7.88 and then trailing my stop upwards as it heads towards an initial target of 9.20 (38% fib retracement up).
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 :)
CityDev - from a Short to a Long now?CityDev suppassed the H&S target on the way down yesterday and hit just 0.15 short of a mid term Trendline support. The market is likely ripe for some rebound (after yesterday's "black for swan" event!). However with the SL just below the trendline @ 9.70, which is a little farther away then I am comfortable, I would only put in half position @ 9.00 and if I don't get stopped out I would be looking to scale out along fibo levels on the way up.
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.
City Dev - Miss the H&S opportunity to shortI must have been blind not to see the glaring Head & Shoulders for this chart until now. Broken down the neckline at 10.40 (the ideal short entry) and H&S target around 9.25. now late in the game and will just stay at the sideline .. :(
