Genting share has amazing rally over past 4 months by doubling its price. For market capitalisation of around 20b this rally is too fast and the good news mostly have been discounted. Just imagine the company is having 10b more in market cap in the last 4 months. It’s just insane to believe that the company would earn so much money within such short time.
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US indices have been losing ground over past 4 trading sessions and the chance of technical rebound is highly likely as it’s in shortterm technical oversold situation.
My target for S&P500 hitting the 1000 mark still valid despite only 50 points away (It has dropped from 1129 to 1051) over past 3 weeks.
The picture is the roadmap till end September with possible rebound from recent oversold situation with target around 1080-10100 before further downward move.
Biosensor rose more than 4 fold from its $0.225 low and the shallow correction in May only reaffirm that this stock is stil on its uptrend.
The past 3 months narrow trading range with the shape of uptrending triangular formation signaling ongoing accummulation.
The immediate resistance is at $0.83 with shortterm target at $0.90. A medium target of $1.30 is more likely once they get more approval in different countries (probably by Mid 2011).
Today it just announced that its Drug Eluting Stent System is approved for sale in Taiwan.
If you’re interested on research report by Nomura for Biosensor please contact me.
Osim is the most oustanding performer in this bull run.
I’m still bullish despite sharp run up in its share price and I believe, we could see the price revisiting $2 in the coming years.
As i’m a swing trader prefer to ride short wave of the trend I’m looking for further pullback towards $0.88 by early September followed by strong rally towards $1.18 by the early November.
Venture travels nicely within the big range between $8-$10 over past 1 year. The current low and the consolidation over past one month created a price range between $8.33-$8.71. And what happens today is the break above this price range and usually it triggers improvement in upward price momentum. The immediate target is $10.
Weekly chart
Weekly Chart
Daily Chart
Just for your comparison.
If you believe the Shanghai market correction will soon be over you may focus on some good stocks that represent Shanghai market movement (see my bullish view on Shanghai: Shanghai 4220 next year?).
The whole idea is that we (in Singapore) can’t have direct access to Shanghai market which start to look attractive. Singapore market is flooded by bunch of useless Chinese companies which oftentimes came with corporate fraud surprises.
After scanning through most of the stocks I’ve found out one high-end China property developer, Yanlord, moves exactly mirroring the Shanghai market.
Let me guide you through the technical part of Yanlord.
Click here for its weekly chart.
The weekly movement suggest that the support in its stock is finally found at $1.55 level and this big retracement is equivallent to SSE movement.
Click here for its daily chart.
If we look at market plunged over the past 2 weeks which the US market lost over 10% of its value and most of shares were plunging deeply correcting more than 20%, Yanlord share price seemed to be well absorbed. Despite a small range bound between $1.55 and $1.68 Yanlord share price is standing at 2 weeks high, remarking the strength in comparison of other stocks. Its price uptrend still need further confirmation by breaking above $1.70 which I feel, shouldn’t be much of problem if the strength in SSE continues.
I start buying again for midterm holding.
My entry for NOL is at $1.97 today
Last night most indices had hit my support level which could translate to entry level:
- Hangseng futures went below 19,000 level (my support level is at 19000)
- Dow went below 10,000 level (my support level is at 10,000)
- SSE is close to the intermediate support of 2643 (now 2694) with worst case downside at 2400.
The share price rose 22% after the XB. And the current retracement towards the 62.5cts level seems to have found its important support.
The trend remains intact upward and I believe, the remaining sellers are desperate weak holder trying to get out.
I start to accumulate again.
