end of day picture for STI

Hi, a quick look at the STI at the end of today. Above is a daily chart of the STI. I was looking forward to the STI heading towards 3230 after it closed above 3180, but i guess it is time to take profit. The STI has fallen back to previous strong support at about 3130. If the STI manages to rebound from this level, then this time it should head towards 3230. Both medium and long term trend is still bullish.

end of day review 8 apr 2011

STI's daily chart above. The STI has been rising since mid Mar 2011. The upward momentum is extremely strong. Short term moving average has turned up sharply. Today, the STI managed to close above previous support @ around 3180. Next minor resistance is 3228 and the next major resistance should be at 2011's high of 3280.



Something interesting must be brewing at Cosco Corp. It rose $0.08 from the open @ $2.17 to close @ $2.25 at extremely high volume. It looks poised to hit 2011's high of $2.44.




Golden agri managed to breakout of previous high pivot @ $0.72 on increasing volume. Next resistance is @ $0.75. The upward momentum of this counter is getting stronger.

end of day review: 4 Apr 2011

A look at the STI. Uptrend is getting stronger. The STI has broken out of major resistance at 3130 and looks poised to head towards next resistance @ 3180.



Genting SP has been consolidating for quite some time, and is now showing signs of heading towards its previous high of $2.35. It has broken through the psychologically important $2.00 barrier and looks like it is headed towards the next resistance at $2.16. Major resistance area is around $2.16 to $2.26. A successful breakout of this zone will see Genting heading towards $2.35 in no time.




An extremely strong performance by Cosco today on very high volume, which saw it going from a low of $2.07 to close at $2.17. This is just shy of the resistance at $2.19. A successful breakout from $2.20 should bring it to its 2011 high of $2.44



Noble group is also on an uptrend. Resistances at $2.25, $2.32 and finally to its 2011 high of $2.40. Support is at $2.17.

market wrap up: STI and Genting SP

Just a quick look at the STI after today's close. Above is a daily chart of the STI. It closed strongly above the 50-day moving average; a good sign, but is encountering strong resistance at the 3112 level (previous swing high and multiple support level in the past). Momentum is still strongly upwards, support is around 3060.



Above is a daily chart of GENTING SP. It put in a strong showing today, breaking above the $2.03 resistance on high volume to close at $2.07, while at the same time also closing above the 50-day moving average. Momentum is also strongly upwards, with next resistance at about the $2.20 level. Immediate support is at $2.03 (previous resistance), but the next support is at $1.86 (the previous swing low).

update on sti and a look at noble, capitaland and genting SP

Today, the STI closed above the 200day moving average and below the 50day moving average. Momentum is still strongly upwards. Immediate resistance is at the 50day moving average line and next would be the previous swing high of around 3110.



Genting SP's upward momentum is extremely strong now. It has broken through the 50day moving average and previous swing high of $2.04 to close at $2.05. Next resistance is at $2.20.



Noble Group's upward momentum is also very strong. It also closed above the 50day moving average line. Next resistance is at the previous swing high of $2.25.




In great contrast to the previous stocks, Capitaland is still on a sideways trend with a bias to the down side since it has broken support of $3.50. Above is a WEEKLY chart (the rest are DAILY charts), which show that the price of Capitaland has been sideways since the middle of 2009. Volume is strong today, which is why i am highlighting this counter, but it really is not a pretty chart.

A look at 3 active counters

Above is a daily chart of Golden Agri. After making a double bottom around $0.620, it has rallied strongly to close just below resistance of the 50day moving average and the previous swing low of $0.690. Momentum, as shown by the MACD, is bullish.




Here is a chart of COSCO Corp. Overall picture is not as bullish as Golden Agri. The price is still below the 200day moving average and is facing resistance at that level, which also corresponds to the previous swing low. Momentum is only just starting to turn up. If it manages to break above the 200day moving average, next resistance is at $2.00




Olam made a strong showing today. Momentum is upward, but it is facing strong resistance of the 50day, 200day moving averages and previous swing high at around $2.84.

STI - gaining strength

Good morning, STI is gaining strength, now that it has cleared the 3,000 points mark. MACD is turning more positive. Resistance is expected to be at the 200d moving average line at 3060.

Many STI component stocks are turning up, especially these few, on high volume: Genting SP, Golden Agri, Noble Gp, Olam, Indo Agri, Cosco.