Owner: Technical analysis of stocks in SG URL:http://traderstudent.blogspot.com Join Date: Thu, 04 Oct 2007 21:06:38 -0500 Rating:0 Site Description: Application and analysis using technical analysis of stocks in SG with charts frequently added and updated. Site statistics:Click here
Construction sector in play ? 2008-01-02 10:45:00 I noted ChipEngS aka CES on the top movers section today. It closed with a white candlestick with heavy volume. As seen in the chart, CES broke the resistive trendlines today. It seems to me that this looks like a triangle formation.ChipEngS:Another counter is Lian Beng which is approaching it's historical closing level. It closed with a shaven white candlestick with it's volume picking up but failed to break above it's historical level. On the weekly chart which i din post it, it seems to me that the volume has been decreasing steadily and dat looks suspect to me.Lian Beng:Both counters are trending on breakouts so DJIA's performance tonight will be important. A positive closing of more than around 1% for the DJIA will signify that the counters will gap up tomolo on opening and it may be Read more:Construction
, sector
Start of the new year ! 2008-01-01 11:10:00 This will be my 1st post of the new year ! :) Quite excited about it though i can't say the same for the markets now.For the Straits Times Index, it closed well with a shaven white candlestick with a heavy volume. Notice that STI only opened for half a day, so i consider that volume to be relatively heavy.However, STI broke it's channel support 2 closings ago and notice that it rebounded off the resistive trendline. We shall see whether STI will break this trendline in subsequent closings. Meanwhile, STI is still forming a higher high and a higher low.Straits Times Index: Read more:Start
Weekend review of STI and DJIA 2007-12-29 11:36:00 By the Dow theory, a higher high and a higher low is confirmed for the Dow Jones thus an uptrend is still in place despite the dips recently. I believe DJIA should rebound off from it's current level technically.DJIA has tested the 200d MA and has successfully close above it for the past 2 closings. Furthermore, the formation of a doji candlestick suggest that a short-term bottom has been reached. Moreover, DJIA now lies on a trendline that was drawn connecting the prior two higher lows thus i believe DJIA will not dip anymore beyond this level technically.Dow Jones Industrial Average:What is being said for the DJIA is different for the STI. The Straits Times Index tested the 200d MA on thursday and failed to close above it and i consider that to be bearish. Notice that this also rebounded Read more:Weekend
, review
Rally led by retailers 2007-12-26 09:39:00 Dow Jones broke above the 200d MA and along with the other MAs used in my chart, namely the 50d and the 100d MA and that is a bullish sign. Next resistance will be the prior peak level around 13767. Overall, it's a good sign that DJIA is finally recovering.Dow Jones Industrial Average:I do have more observations on the Straits Times Index. STI is still below the 200d MA but given that DJIA is now above the 200d MA, STI should be testing it soon subsequently. Next resistance level will be the prior peak level which is at around 3621. A breakout above this resistance will result in a double bottoms formation technically.Today's trading volume was exceptionally light though it was a full trading day. The 2nd last closing's volume was light because STI only traded for half a day. This would me Read more:Rally
, retailers
Weekend review of DJIA and STI 2008-03-16 12:46:00 I been busy with my school work so I have not been updated my blog for the past week which i apologize for that. For the past week, the piece of important news that came out was that the Fed will pump in money and that cause the Dow Jones to register it's highest gain in 5 years. On hindsight, i should have shorted the rally since following the rally, an inverted hammer was formed on the trendline following the breach of support for the descending triangle and i failed to see that on my chart.Currently, DJIA is being resisted by a minor resistive trendline and this was done with heavy volume. DJIA is now in the middle of a major support level and a major resistive trendline. My trading strategy still remains the same as my previous post; short at major resistance or breach of support.Dow J Read more:Weekend
, review
DJIA hitting major resistance 2008-03-19 10:35:00 Dow Jones will be testing a major resistive trendline tonight and we shall see whether it can break through this trendline. This trendline has held for 3 occasions and that adds to the strength of this trendline. Candlestick theory will help to decide whether this trendline is likely to hold this time. I am watching out for a doji or an inverted hammer with long wicks this time. It will be a bonus if the Dow Jones can close slightly higher on green tonight.Dow Jones Industrial Average:
Weekend review of DJIA and STI 2008-03-23 10:17:00 Currently, Dow Jones is near the major resistive trendline. I was expecting it to dip back to it's major support level after thursday black candlestick closing but it rallied on friday but failed to close above the major resistive trendline. Last friday's white candlestick was done with heavy volume so that adds to the risk of going short but on the other hand, since DJIA is now near the major resistive trendline, there is a good chance that it will rebound off this trendline. Furthermore, notice that for the last 3 days, DJIA failed to hold fibbonacci retracement of 61.8%.Dow Jones Industrial Average:For the Straits Times Index, the support level seems to hold and it remains to be seen whether the minor resistive trendline will hold as a resistance level. Otherwise, nothing much to commen Read more:Weekend
, review
Not just another technical rebound 2008-03-26 08:54:00 Dow Jones broke out of it's major resistive trendline two closings ago and it ended with a doji candlestick. In my opinion, this is not just another technical rebound which we have seen for the past few months. Usually after DJIA ends with a huge white candlestick, the next day will likely to be a black candlestick but for this time round, we are only see a doji. However, the volume looks suspect since it is so light and this is not what is expected of a strong rebound. The next resistance level is around 12785 which was the resistance on two previous occasions.Dow Jones Industrial Average:For the Straits Times Index, it broke out of it's resistive trendline too and it was accompanied by heavy volume. There is a gap resistance at around 3000 but i think it should not be a concern since STI
Weekend review of DJIA and STI 2008-03-30 10:12:00 Dow Jones look pretty suspicious to me. It seems like a healthy retracement is taking place with the declining volume being seen. On the other hand, I was expecting it to test the trendline as a supportive trendline with the retracement at least but it just fell through the trendline as though the trendline was not there. I am not certain about the direction as of now but it seems to me that the breakout of the resistive trendline was just a facade and this breakout did not carry on with strength.Dow Jones Industrial Average:I went to Bear's blog and took a look at his latest posting and his sentiments were the same as mine. It is strange that DJIA had 3 black candlesticks in a row while the STI had 3 white candlesticks. STI seems to be diverging from DJIA and i suspect this is due to the Read more:Weekend
, review
Signs of healthy retracement 2008-04-01 11:33:00 Three days of black candlestick coupled with declining volume and one day of white candlestick with heavy volume is a technical sign of a healthy
retracement. It will be prudent to keep a lookout once the Dow Jones is near major resistance which should be happening very soon.Dow Jones Industrial Average:
Weekend review for DJIA and STI 2008-04-06 11:33:00 This coming week will be a pivotal week for the Dow Jones as it is very near to a major resistance level. Such major resistance or support level offers a good reward to risk ratios for taking up positions. Major resistance level for the Dow Jones is around 12760 and volume has been declining for this current uptrend. Another bonus is that the A/D line and the MACD histograms are showing divergences. I will be watching the 12760 level closely to be tested successfully as a resistance level.Anyway, i drew the vertical lines to show the divergences in the indicators more clearly. It can be seen that as price made a higher level. these indicators did not manage to breach their highs.Dow Jones Industrial Average:For the Straits Times Index, it is not converging well with the Dow Jones. It broke Read more:Weekend
, review
Back from a long respite 2008-04-27 14:42:00 I took a break from blogging due to some personal reasons and besides I'm in midst of my examinations with another week to go. It's been a really long time since I posted anything. Guess I needed a break to consolidate my thoughts and to plan for the future with a longer time frame.There has been a lot of interesting movements in the charts. I must admit that this period is a very hard time to do any trading as one is prone to whipsaws. 12800 was the crucial level for the Dow Jones. After it broke the 12800 resistance with a shaven white candlestick and coupled with heavy volume, it seem poised for a strong run upwards. Alas, it fell back below the 12800 and a whipsaw happened. And the strange thing that happened after this was that it tested the 12800 successfully with a hammer. Thus it i Read more:respite
Missed out on formation on the STI 2008-04-28 13:12:00 Yup, I realized there is a reverse head and shoulders formation forming for the Straits Times Index while browsing at other blogs. I have marked out the shoulders and heads with the arrows. However, do bear in mind that it still have not break out from the trendline yet.Straits Times Index:
The worst seems over 2008-05-04 11:31:00 I know my title sounds quite obvious cos it seems to everyone that the worse is over. I can feel that the retailers are trading albeit with more caution this time. On the Dow Jones, it tested the 200DMA as resistance with an inverted hammer and the chart is showing some divergences on the indicator. Personally, I feel that it is not a big issue cos I dun see what else can hit the market. We should be looking at a breakout above the 200DMA soon. The last time DJIA ever kiss the 200DMA was a good 5 months ago. But chart-wise, let me just take it objectively that DJIA has failed to break above the 200DMA and the 200DMA is a resistance level currently.Dow Jones Industrial Average:The Straits Times Index seems poised for a breakout for the reverse head and shoulders formation. It seems to be a
STI breaking out of head and shoulders 2008-05-07 23:57:00 STI seems to have broke out of the reverse head and shoulders formation but it din really broke out nicely. The breaking of the trendline was not coupled with heavy volume and on the last closing, STI seems to have fall back on the resistive turn supportive trendline with heavy volume. The bearish divergences on the indicators are still intact.Straits Times Index:
Paper Trade of Noble 2008-08-16 15:05:00 Taking a another go again.Got whipsaw again. This time, it is a huge whipsaw and unexpected things do happen. Should be looking at a loss of at least 5%. The main reason for this huge loss is because of the release of results for this quarter by Noble
. Perhaps one should not take position before important dates such as this.Shorting Noble on market opening of Friday, 8th August 2008.Filled at $1.8 Read more:Trade
Paper trade of NOL 2008-08-06 22:30:00 Shorting NOL on the market opening of Tuesday, 5th August 2008Filled at $2.63.Covering back on market opening of Thursday, 7th August 2008Filled at $2.64.Percentage Loss with commission at -0.68%Got whipsawed. The feeling of being whipsawed is horrendous. Especially, when NOL tanks immediately after opening.NOL on 7th August 2008NOL on 5th August 2008
Back from 3 months hiatus 2008-08-03 11:44:00 I am finally back from a 3 months hiatus. The last post I made was on 7th of May which was like 3 months ago and that is such a long period of time. During this period of time, I was attached to the main shipyard under Sembcorp Marine. I guess I was also pretty drained from blogging on a regular basis so I will be blogging when there are important stuff for me to post or just to share some of my o
Paper Trade of SembMar 2008-09-06 02:21:00 First profit target at around $3.3 has been achieved to my surprise within such a short period of time due to the sudden plunge of the Dow Jones Industrial Average along with the Straits Times Index. Inverted hammer with a extremely unusual long wick formed that tested $3.3 as a resistance level. I will be covering the short if it breaches $3.3 again.Shorting SembMar on market opening of Thursday, Read more:Trade
Paper Trade of City Developments 2008-08-19 21:09:00 Bear Flag spotted for Capitaland but it broke out too far from the resistance cum support line. Shorting City Developments instead due to breakout of the right-angled ascending broadening formation.Shorting City Dev on market opening of Tuesday, 19th August 2008.Filled at $9.97Covering City Dev on market opening of Wednesday, 27th August 2008.Filled at $10.04Percentage loss with commission at 1%.G Read more:Trade
Paper Trade of SuntecReit 2008-09-14 12:35:00 Simple breaking of support with heavy volume.Shorting SuntecReit on market opening of Monday, 15th September 2008.Filled at $1.31Covering SuntecReit on market opening of Tuesday, 16th September 2008.Filled at $1.24Percentage profit with commission at 5%.SuntecReit on 12th September 2008 Read more:Trade
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