COSCO about to breakout?

COSCO Corp (S)
Business: Ship repair, ship building & marine engineering

Technicals: It is a bit difficult to show COSCO's chart in the proper perspective. Its high was $8.20 in OCT 07 and it came crashing to $0.60 in OCT 08. It has since been climbing slowly, but in a volatile fashion, to $1.92. I attach a short term chart to show that there is resistance at $1.93 and it is now trying to breakout of that price today.

If COSCO manages to breakout of $1.93, my next upside target will be $2.18 (the 161.8% fibonnaci level from the previous swing low of $1.53.

Commodities Price Surge May Be Fueled by Japan - CNBC

Commodities Price Surge May Be Fueled by Japan - CNBC

Golden Agri

Business: involved in cultivating, processing and sale of crude palm oil (CPO) and related products.

Technicals:



A quick look at Golden agri's chart. The price peaked at $1.08 in Feb 2008. When the financial crisis hit, the price dropped to a low of $0.13 in Oct 2008. After that, it has been steadily on an uptrend, peaking at $0.655 in Jan 2010, and then consolidating sideways when fears of a double dip rose. The price tested $0.62 on three previous occasions, but each time, it failed to breakout of that price. It is testing $0.62 again today.

If it breaks out of $0.62, my upside target would be $0.62 + ($0.62 - $0.50) = $0.74. ($0.50 being the previous swing low).

STI finally broke this year's high

Good morning! It has been a long time since my last entry. The STI finally made a new yearly high last Monday. Above is a weekly chart of the STI. The STI has been largely range bound between the 50% and 61.8% Fibbonacci levels since Nov 2009, with support at 2700 and resistance at slightly above 3000. More importantly, the STI has been trading above its 200day moving average since Jun 2009 and above its 50day moving average since Apr 2009. So the major trend for the STI is up. First major resistance is at its previous high of 3258 and thereafter at the 76.8% fibbonnaci retracement at 3400. Major support is around the 61.8% fibbo retracement level at 3000 pts.

update on STI

I decided to change the presentation of my charts with the intent of keeping things simple. Above is a daily candlestick chart of the STI showing only the daily volume and a 200-day and a 50-day moving average. The 200-day and 50-day moving average shows the longer term and shorter term trend respectively.

My comments on the STI follows:

We had a minor correction from Apr 10 to late May 10 when the index dropped from 3016 to 2650. It has since rebounded and now appears to be settling above the 50-day moving average. The longer term trend, as shown by the 200-day moving average is still up. Shorter term trend is also up.

update on STI

Good afternoon, here is a short comment on the STI. Trading volume over the past 4 weeks has been anemic. Middle term trend of the STI, as shown by the moving average line, is now flat. Momentum, as shown by the MACD line, is still down.

So what we have is still a mixed picture. I guess it would be prudent to wait till some trend emerges from this muddled picture.

update on STI

Hi there! Just a quick update on the STI. Above is a weekly chart of the STI. Momentum of the STI is still down as shown by the MACD. The trend, shown by the moving average line, is now down, with the STI unable to close above this line over the past 4 weeks. Support is still at the 50% Fibonacci retracement at 2695.