Hi Guys,

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

Cheers
TKK

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161 comments
LFO

Techs run again after lunch.

MyLegoMustache

big bears or teddy bears? lol...
aem/hi-p support look a bit unsafe. hopefully, tomorrow morning buy queue can grow in strength... based on closing Q, if cross 1.68/1.42 respectively, I think Tomorrow another >10c look possible. :(((
Shorts aem 448k. hi-p 316k

TiKongKia88

Reply to @MyLegoMustache : this time teddymon. lol. be patient. I dont think the correction will end so shortly. dont get suck in by dead cat bounce.

TiKongKia88

Bear div 就是 bear div. Moving on, some display potential rally subsequently, some unsure. For now I will only comment if I see bull div. Thanks. Cheers.

LFO

Aem really no horse run 😱.

TiKongKia88

A little mid week update,

AEM - RSI bear div,
HiP - RSI and MACD bear div
UMS - RSI and MACD bear div
Valuetronics - RSI and MACD bear div

MyLegoMustache

bro, why you leave out Venture ah? heehe

TiKongKia88

Reply to @MyLegoMustache : give chance leh bro. hahaha my TA anyhow draw one.

TiKongKia88

HiP might chase AEM. W5 max 1.76 as target.

FYI: I personally dont long during W5. RRR not saucey enough for me.

LTKO

Reply to @MyLegoMustache : Wahahah hope the Chinese find some good good negotiators

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fiftysevenbucks

sold a bit at 1.75 to UBS before lunch

fiftysevenbucks

Reply to @TiKongKia88 : sell some to test. Anyway, i had a TP of 1.78

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JackHuatWithYou

Why AEM so huat... See liao buay tahan... Fomo syndrome...

MyLegoMustache

small fences in between here and next wall at 1.8? BB really milking it.....😀

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Recommended & Related Posts

Expiry:
Target Price
$2.8
(+22.27%)
NOW:

Personally thinks Taxi about do to a reversal. Maybe after this post then it decides not to. lol
Testing another MT estimate. Price could be range bound at current range for a few days before breaking up. Cheers

Repost with right estimation period: 5-6 months 

TA Update:

Shall inject some hope since this poor thing is getting neglected. First look, uptrend channel still intact from daily chart. In fact right now I would consider boat is back since it is in the demand range of the uptrend channel.
From an Idiot Wave POV,
W2: Did deep correction (>50%) of W1.
W3: Did a 261.8% extension of W1
W4: Did a flat correction (<50%) of W3
W5: Should do just a 61.8% extension of W3. 

I would expect limited downside as indicated in my SL level and the uptrend should continue. 

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Expiry:
Target Price
$0.69
(-6.76%)
NOW:

$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.

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Expiry:
Target Price
$0.705
(+16.53%)
NOW:

$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


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Hi Guys,

In case some of you like to have high tea, can yum seng with the 难兄s.

$Valuetronics(BN2.SI) 

$UMS(558.SI)

*For entertainment only*

Cheers

TKK

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Hi Guys,

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. 

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