• It is stuck in its medium term sideways trend between S$1.55-1.70. A breakout on either side would only confirm the trend.
• However, in the near term, it could continue to climb further as its daily MACD is about to move into positive territory while RSI is also on the rise.
• The stock could inch a tad higher towards the S$1.70 resistance. A breakout above S$1.77 would be bullish for the stock. However, since the longer term charts are still showing weakness, it is less likely that the S$1.77 will be breached in the near term.
• On the other hand, a break below the support at S$1.55 is bearish and the stock could then fall to test the S$1.42 low again. We would prefer to stay with the bears right now due to the weakness in the longer term charts. Maintain sell for now.
SMRT Corp is a holding company with transportation as its core business. SMRT Corp through its wholly-owned subsidiary, SMRT, operates the MRT system in Singapore. It also operates the Bukit Panjang light rapid transit system, provides an executive bus service, a stored value farecard ticketing service and specialist engineering consultancy services.
ComfortDelgro Corp (CD SP; S$1.34) – SELL
• The chart shows that the stock is still in its major downtrend. Until a breakout above the trend line resistance at S$1.45, the stock is under the control of bears. On top of that, it is also trading below its 30-day SMA.
• Technical indicators are mixed. MACD has confirmed its golden cross but its momentum is weak while RSI has turned down again.
• Sell into strength with resistance seen at S$1.33 and S$1.45. Prices could ease towards the S$1.16 levels again should the S$1.27 support fails.
ComfortDelgro's businesses include taxi, bus, rail, car rental and leasing, automotive engineering and maintenance services, inspection, test and assessment services, learner drivers’ instruction services, insurance brokerage services and outdoor advertising.
Oceanus Group (OCNUS SP; S$0.11) – SELL
• Has fallen below its 5-month sideways trend. The old support at S$0.115 is now the immediate resistance for the stock. The next resistance is at S$0.13.
• MACD has stayed negative but its RSI has turned upwards again. Mixed signals suggest that the stock is still in consolidation.
• The stock could see a minor rebound to test its resistances but it may still be best to sell and wait. There are still no buy signals as yet, hence buyers may want to wait a while longer before getting in. Support is at S$0.095 and S$0.075
Oceanus is a marine aquaculture specialist focusing on large scale; land based industrialised production and sale of premium quality Japanese Abalones. Its principal activities are the research and development, breeding, intensive production and sale of this luxury product.
Sponsored Links
No comments:
Post a Comment