Capitaland vs Kepland

It looks like the STI has found some measure of support for now. I attach two daily charts of 2 large property developers listed in Singapore; Keppel Land and Capitaland for you to have a feel of their share performance.

Capitaland: Involved in real estate, hospitality and real estate financial services which focuses in growth cities in Asia Pacific and Europe. NAV: $3.17, PE: 15.0, PB 1.2, Yield 1.5%. Market Cap: $15,760M.

Since making a high of about $7.00 in 2007 and a low of about $1.80 in 2009, it has been going sideways, range bound from $4.43 to $3.27, for almost 2 years. Very unexciting.

Keppel Land: Involved in property trading, property investment, fund management, hotel and resort and property services. NAV $2.42, PE 24.5, PB: 2.0, Yield 1.7%, market cap $6,856M.

On the contrary, Keppel Land made a high of $6.80 in 2007, a low of about $0.71 in 2009 and has been climbing quite steadily since then.

The price has retraced to the 200-day Moving Average line and has also bounced off the 78.6% fibonacci retracement of $4.18. From a chartist's perspective, it looks like good entry point.

Update on STI

Another quick look at the STI. This has been a very vicious start to the Chinese New Year. The STI fell from a high of 3232 from 7 Feb to an intraday low of 3054 on 11 Feb. Today is the third test of support at the 200day Moving Average. So far it has held and that is a good sign. In the long term, the STI is still trending up. In the shorter term, the STI will likely trend sideways (consolidate) before breaking above the 50day moving average line. Resistance is 3120 level. Support for now is 3060.

A look at the STI

STI has been down four days in a row. Very fierce selling, especially in the property counters with heavy exposure to the China market like Capitaland. Technicals for the STI look quite bad for the short term. The STI has broken support at 3120 and looks set to go all the way to 3050.

good entry now for noble group?

The later part of Jan 2011 has been rather volatile and bearish for the Singapore market. But it does appear that this may be a good time to buy.

Above is a daily chart of Noble Group from mid 2009 till present. Moving averages show that both the middle and longer term trend is still up. It managed to break out of the previous high of 2.23 in late 2010, but has broken down in mid January 2011. Today, at the close, Noble group went below but managed to close above the 50day moving average. This seems to suggest a support at this level and it looks like a good entry for Noble group. Next support is at $2.00.

wilmar - a good buy?

An extract from Wilmar's corporate website:

Wilmar International Limited, founded in 1991, is Asia’s leading agribusiness group. We are amongst the largest listed companies by market capitalisation on the Singapore Exchange.

Our business activities include oil palm cultivation, oilseeds crushing, edible oils refining, consumer pack edible oils processing and merchandising, specialty fats, oleochemicals and biodiesel manufacturing, and grains processing and merchandising. Headquartered in Singapore, our operations are located in more than 20 countries across four continents, with a primary focus on Indonesia, Malaysia, China, India and Europe. Supported by a multi-national staff force of more than 80,000 people, over 300 processing plants and an extensive distribution network, our products are sold to more than 50 countries globally.


Above is a weekly chart of Wilmar.

Since breaking through double top of $5.69 in Jul 09 and hitting a high of $7.30 in late 2009, the price has generally been sideways and range bound between these 2 price levels. There is heavy selling today down to about $5.69, supposedly on news that it is venturing into the property business. It may be worth going into if the price can hold above $5.69, but generally, with the price below the 50-period Moving Average line, it looks rather unexciting.

STI: Where is it going?

Good morning, above is a year-to-date daily chart of the STI. It looks like a head-and-shoulders pattern is forming; left shoulder around mid October, head around early November and right shoulder around early December. Confirmation of this formation would be a close below the neckline @ 3119.

The short term trend, based on the 50day Moving Average line, has gone sideways. Longer term trend, based on the 200day Moving Average line is still up.

My conclusion? The direction of the market is uncertain, so wait and see. Support: 3119. Resistance: 3220.

Happy Holidays!

STI - support held

Good evening,

today's price action of the STI was extremely bullish. I attach the daily chart of the STI above. The STI retraced to the previous swing low of 3115 five trading days ago, bounced up slightly, went sideways while the world watched how the European debt situation and North Korean tension panned out. Today, the STI bounced off 3119 level again and closed strongly above yesterday's high. I expect the STI to continue with its uptrend.