*Update* OCBC 30 September 2015

Another quick update, let’s look at OCBC

Seems like it broke the symmetrical triangle formation. Currently, might be looking to form a descending triangle.

What is descending triangle you ask?
A bearish chart pattern used in technical analysis that is created by drawing one trendline that connects a series of lower highs and a second trendline that has historically proven to be a strong level of support. Traders watch for a move below support, as it suggests that downward momentum is building. Once the breakdown occurs, traders enter into short positions and aggressively push the price of the asset lower.
(From http://www.investopedia.com / One of my favourite sites!)

Basically, it can also show that the demand is weakening.

Support: $8.65
20,50,200 dma: all still downtrending
Short Term Resistance: $8.90 / $9.28



*Update* NOL 30 September 2015

Just to give a quick update on NOL. The counter did not managed to breakout from $0.98. And from there, it retraces back down.

So far in mid day, the volume traded is significantly lower. See if $0.93 can be the support for it to rebound and test $0.98 again. If $0.93 doesn’t hold, we might see it retrace back down, to around $0.88.

Currently, 20dma crossing 50dma, which is good. 200dma, remains flat.


NOL Neptune Orient Lines Limited 23 Sep 2015


From what I can see, there is a double bottom formed. But this could be better if 23 Sep candle managed to close even higher. We can also noticed that the 20dma makes a uturn, looking to cross the 50dma. Good sign.

From here on, we might be able to see the counter go passed $0.98 on Friday, with such volume we see on 22 Sep and 23 Sep. Let us see how this will turn out!

Next resistance level: around $1.025

Of course, with such volume, they got queried by SGX.

NOL Queried

Possible Consolidation OCBC 23 Sep 2015


I think it seems like there might be a possible consolidation for OCBC, as seen from the symmetrical triangle formation. Usually, there might be a sharp movement once the triangle formation is breached.

20 dma seems to be showing early signs of trend changing, and we can also noticed that the MACD signals showing some recovery signs too. However, I suspect we are still in the early stage.

Another thing to note is that the trading volume is slightly higher, from August onwards.

Short term resistance: $9.20 – $9.22
Next level resistance: $9.40

We would definitely like to see the gap between $9.77 to $10.08 to be covered, for a higher possibility of uptrend continuation.

Badly Beaten DBS 24 September 2015


From the chart, we can see that DBS is still bearish for long term. 20, 50, 200dma showing downtrend.

This is also accompanied by high daily trade volume, serious sellers.

23 Sep Wednesday breakaway gap, supported by high volume -> Bearish enough.

It is nicely resisted by the 50% and around 61.8% fibo, making it a good shorting entry from there on.

Slight support around $16.70 region, but there is also a possibility that it might head lower to $16.22 region.

RSI: Going into oversold region, might see more actions coming

MACD: Not looking good.

I am still bearish on this until I see a good rebound for longing.

Jumbo Group planning IPO on Catalist board / CNA 21 Sep


SINGAPORE: Jumbo Group, the restaurant chain best known for its chilli crabs, is planning an initial public offering (IPO) on the Catalist board, according to a preliminary offer document lodged on Monday (Sep 21).

The group, which operates 14 outlets in Singapore and another two in China, is controlled by CEO Ang Kiam Meng and his family.

The firm made a net profit of S$11.5 million for the 12 months ended September 2014, on revenue of S$112.4 million.

According to reports, the IPO could raise about S$30 million.

Jumbo said it plans to use part of the listing proceeds to fund its expansion in Singapore and overseas.

CapitaGreen hits 83 per cent occupancy 9 Sep 2015


SEP 9, 20151:24 PM

CAPITAGREEN, a 40-storey Grade A office tower developed on the former Market Street Carpark site, has reached a committed occupancy of 83 per cent.

The building is home to some 30 multinational companies from diverse industry sectors including insurance, energy and commodities, technology and e-commerce, as well as financial services, said CapitaLand’s president and group CEO, Lim Ming Yan, at the official opening ceremony for the building on Wednesday.

Tenants secured include Bordier & Cie, Cargill, Catlin Asia Pacific, China Life Insurance, Fitness First, Jardine Lloyd Thompson, Jones Day, Lloyds Banking Group, Rakuten, Schroders Investment Management and South32.

“I know many tenants have been attracted to CapitaGreen because of its sustainable design principles, which are aligned with their own corporate values and business focus. A number of tenants including Lloyds, Schroders and South32 are in the process of being certified under the Building and Construction Authority Green Mark Office Interior scheme,” Mr Lim said in his speech. The building’s total net lettable area is 703,000 sq ft.