Wednesday, February 18, 2009

Technically sell SIA, Golden Agri, Wilmar

Technically…

Singapore Airlines (SIA SP; S$9.97 – SELL): Fallen below its consolidation triangle’s support and its 30-day SMA, suggesting that longer term downtrend has resumed. Could retest its October lows of S$9.05/S$8.83.

• The stock is fallen below its consolidation triangle’s support and also its 30-daySMA. This breakdown suggests that the longer term downtrend would likelyhave resumed.

• Indicators are looking negative with the RSI hooking downwards from a neutralposition. MACD has also maintained its negative stance and hence anyrebound would likely be weak.

• Maintain sell as any rebounds towards its resistance at S$11.00 and S$12.20should be seen as a selling opportunity. The stock could fall to retest itsOctober lows of S$9.05 and S$8.83 next.


Golden Agri-Resources (GGR SP; S$0.275 – SELL): Broke below its short term uptrend channel, suggesting that the longer term downtrend has resumed. S$0.26/S$0.21 could be tested soon.

• The stock broke below its short term uptrend channel yesterday and this is asign of weakness. The breakdown also suggests that the longer termdowntrend has resumed. Resistance is at S$0.30.

• Its MACD just confirmed its dead cross while RSI has hooked down afterfailing to climb above its trend line.

• S$0.26 and S$0.21 could be tested soon. Sell.


Wilmar International (WIL SP; S$2.89 – SELL): Tested its support turned resistance at S$3.10-3.14 but failed to close above it. This could cause further selling pressure and the stock could test the S$2.60/2.26 support.

• The stock tested its support turned resistance at S$3.10-3.14 but failed toclose above it. This would likely result in further selling pressure after fallingbelow its 30-day SMA (S$2.93).

• Indicators have just turned negative with the MACD confirming its negativecrossover.

• The stock would likely re-rate downwards to the next support at S$2.60 andS$2.26 respectively.



Fundamentally…

Lion Asiapac Limited (LAP SP; S$0.12 - HOLD): Excluding gains on sales of investments, 1H results were weak. The Company has announced restructuring of its electronics business which could see inventory and receivables write offs. We maintain HOLD with S$0.15 TP.

MAP Technology Hldgs Ltd (MAP SP; S$0.255 - SELL): Reported worse-than-expected 4Q but remains in net cash and has sustained its 1.77 US cts dividend (more than 10% dividend yield. We switch to P/BV valuation with S$0.195 TP. Downgrade from HOLD to SELL.

Sponsored Links

Related Posts by Categories



No comments: