In case some of you like to have high tea, can yum seng with the 难兄s.
*For entertainment only*
It has been about 6 months since I last shared my TA on SG tech stock so perhaps it's time to share again! haha
Quick Summary: Next trading day (04/11/19) should be exciting since AEM last ER (01/11/19) is quite positive. One might see bullish movements across the SG tech sector. On the other hand, I see limited upside in the short term from my TA perspective. SG tech counters have already made a good rally in Oct'19 and they are at their respective supply zones and resistances. You may refer to the respective TA below.
$AEM(AWX.SI). Currently testing resistance of uptrend channel, it made a small correction to the demand zone (orange) zone when it first hit the resistance and now it's back testing it again.
$Hi-P(H17.SI) Price was rejected from the supply zone before the ER as it was simultaneously testing the uptrend-support-turned-resistance. Currently still hovering at near the supply zone/resistance. Last rally could be W3 though.
$UMS(558.SI) Completed a 5-Waves downtrend and possibly a 5-Waves uptrend. At the moment I see last rally as W3 which should nicely end at the supply zone in red or the 261.8% extension of W1. Prolly W4 will take some time till Pre Xmas and period and then we should see a W5 pump upwards. ER should be latest 14th Nov.
$Valuetronics(BN2.SI) I guess this champion would be the most predictable of all if you have seen its ranged pattern. As seen from the TA, price would enter the green zone before going up to the red zone and etc etc. Recently rejected by the supply zone and resistance. Will this time be different? Hah
A little bonus (Non SG Tech Stock)
$ComfortDelGro(C52.SI) Taxi should be consolidating in current range for a few days before continuing the uptrend. At least the RRR still acceptable from my pov. Made an estimation on the TP and holding period at https://www.investingnote.com/posts/1688400
$UMS(558.SI) Hopeful after TSMC's ER, broke the 70cts mark, people suddenly popping bull estimates but my TA says correction is due. Assuming today marks the end of W3, we should see W4 in the making.
Estimate target is just a level I would consider entering again. Cheers.
$UMS(558.SI) Declining manufacturing and NODX data, people shouting/fearful of recession but my TA says short term uptrend. Assuming last up was W1, and today marks end of W2, we should see W3. If price goes below 0.565 then my TA is annulled.
Since our grandfather of all TA chart @opy asked for chart, I will just leave it here in case it's lost in the comments. Please take note Blue (4) & (5) are placed ARBITRARILY. I need Blue (3) to end before knowing where (4) to end and (4) to end before knowing where (5) end. Cheers
Just continuing my little update I did for the 4 SG tech counters. (AEM, HiP, UMS and Valuetronics).
10th June'19 - https://www.investingnote.com/posts/1472039
09th May'19 - https://www.investingnote.com/posts/1416610
Quick Summary: I see all of them approaching (AEM, HiP) or have tested (UMS) their respective primary downtrend cycle resistance lines. Valuetronics is near supply zone. Expect stronger selling but if managed to close or consolidate above resistance line then we could be looking at trend change already (Just take note: NODX is in downtrend, lol)
$AEM(AWX.SI) This champion has been following a descending wedge pattern after the rally has ran out of strength in Mar'19. At the moment the descending wedge resistance line is proving to be some form of challenge. On a brighter note, it has found its way back to the intermediate uptrend channel and consolidated at the support line before moving further up away from the support line. Keynote: As the correction did not close below the green support zone, I would say the intermediate uptrend is still intact. A good confirmation of a change in trend is when the primary downtrend cycle resistance is finally breached.
$Hi-P(H17.SI) One glance and one can concur the intermediate uptrend is still in play. The rebound so far is at the 1/4 mark of the uptrend. The primary downtrend cycle resistance line is coming close so preferably wait till then for any confirmation in change of trend.
$UMS(558.SI) Of all the 4 SG tech counters covered here, I would say UMS has tested the primary downtrend cycle resistance line the most (and failed, LOL). Was hoping this champion to finally break the resistance line first to give other SG tech counters hope. Last candle stick quite ugly but fortunately it was able to close in the orange zone. Should this champion close below the orange zone, green zone is expected to be in sight. Funfact: The pink zone drawn is the long term support zone since 2009, so D-Day between support and resistance is imminent.
$Valuetronics(BN2.SI) This champion indeed did a nice run from green zone to red zone. So the historical pattern pointed by the 2 black arrows holds true. But this champion a bit bo xim, touch&go the red zone only so far. We are close to supply zone (red zone) so shareholders of BN2 gotta be careful.
If you have read this far, here's a bonus for you.
$Venture(V03.SI) Still in a primary downtrend cycle and also like (AEM & HiP), the downtrend resistance is coming up. Will need a close or consolidation beyond the resistance line to have strong confirmation of trend change.
This would be my final update in this 3 parts update series. I hope you guys have enjoyed it. Till next time. Ciaos.
Just continuing my little update I did for the 4 SG tech counters. (AEM, HiP, UMS and Valuetronics). https://www.investingnote.com/posts/1416610
Quick summary: All four has just rebounded from their macd/rsi bull div. At the same time this rebound could be challenging the primary downtrend cycle resistance. If resistance breaks then I will follow up with the uptrend cycle channel. Cheers.
$AEM(AWX.SI) This guy possibly did a descending broadening wedge and finally rebounded after forming a MACD/RSI bull div as stated in my comment from my previous post. Possible resistance lines as drawn for you.
$Hi-P(H17.SI) This champion cha cha for a period along the support line with macd/rsi bull div. Currently is still an intermediate uptrend within a primary long term downtrend. Gotta see whether it breaks the primary cycle resistance to affirm end of downtrend primary cycle.
$UMS(558.SI) After consolidating at the 161.8% extension of the first correction which also happens to be a demand zone, counter has rebounded into a supply zone. Should expect some correction/consolidation before making a new high to form a possibly bear div. All eyes again on the primary cycle resistance line which has been tested to no avail. Maybe this time will break?
$Valuetronics(BN2.SI) Rebounded after seeing a MACD/RSI bull div. Currently into a supply zone similarly to its 难兄. LOL Normally this guy will traverse from green zone to red one. Keyword: Normally.