F&N=$4.19 (one more push to reach our target at 4.34?)
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Showing posts with label FNN. Show all posts
Showing posts with label FNN. Show all posts
Wednesday, June 3, 2009
F&N one more push to reach target
F&N=$4.19 (one more push to reach our target at 4.34?)
Tuesday, May 26, 2009
Monday, May 25, 2009
F&N - Potential correction at key resistance level
- After rallying by more than 66% over the last 3 weeks, F&N is showing signs of fatigue with the formation of a tweezers top just shy of the 1.5-year downtrend line and key support-turned-resistance level in Aug-Sep ’08.
- With the technical indicators (RSI and Stochastic) showing signs of turning down inside their respective overbought regions and the ROC indicator signaling a bearish crossover recently, they suggest that the uptrend momentum is waning and correction may be imminent.
- We expect the stock to find initial support at $3.45-$3.50 (minor gap in mid May ‘09), breaking which, we see the next support at $3.00 (200-day MA and resistance-turned-support level)
- Immediate resistance is pegged at $4.38 (minor peaks in Aug-Sep ’08), ahead of $4.65 (support-turned-resistance level in Jun ‘08).
Thursday, May 7, 2009
F&N Dragonfly doji suggests possible near-term correction
- F&N is likely experiencing rally fatigue, which could spell a correction in the days ahead, following the formation of a bearish dragonfly doji candlestick just shy of the 1.5-year downtrend resistance line.
- As both the RSI and Stochastic indicators have recently risen into their respectively overbought regions, they further reinforce our view that the recent rally has been overdone and the stock is likely to retrace in the near term to a more gradual and sustainable recovery along its 1.5-month uptrend line.
- We expect the correction to find an initial support at $2.70 (100-day MA and 1.5-month uptrend line), breaking which, we could see another key support at $2.40 (50-day MA and resistance-turned-support level in Mid Apr ‘09)
- Immediate resistance is pegged at $3.15 (200-day MA), ahead of $3.40 (minor peaks in Nov ’08 and Jan ‘09)
- As both the RSI and Stochastic indicators have recently risen into their respectively overbought regions, they further reinforce our view that the recent rally has been overdone and the stock is likely to retrace in the near term to a more gradual and sustainable recovery along its 1.5-month uptrend line.
- We expect the correction to find an initial support at $2.70 (100-day MA and 1.5-month uptrend line), breaking which, we could see another key support at $2.40 (50-day MA and resistance-turned-support level in Mid Apr ‘09)
- Immediate resistance is pegged at $3.15 (200-day MA), ahead of $3.40 (minor peaks in Nov ’08 and Jan ‘09)
Monday, April 20, 2009
Sell technically Golden Agri, Swiber, F&N
Golden Agri-Resources (GGR SP; S$0.36) – SELL
• Golden Agri (GGR) posted a dark cloud cover candle last week. It is also trading very near a cluster of resistances, which increases the chance of a reversal. S$0.385-0.40 and S$0.42 are strong resistances.
• Technical indicators are starting to weaken with the MACD and RSI hooking downwards. RSI has also issued a sell signal last week.
• Any rebound towards the resistance levels should be seen as a chance to sell. Immediate support is at S$0.35, but we do not expect this level to hold.Stronger support is at S$0.32 and S$0.29.
Golden Agri-Resources Limited cultivates, harvests, processes, distributes, and sells crude palm oil and palm kernel. The Company also refines crude palm oil into cooking oil, margarine, and shortening for sale and distribution.
Swiber Holdings (SWIB SP; S$0.515) – SELL
• Appears to be hitting robust resistances. The bearish implication of last Thursday’s candle would likely be felt soon. Take profits now as resistance at S$0.525 and S$0.56 is likely to cap any more upside for now.
• MACD is flattening out suggesting that the buying momentum is starting to ease. RSI has hooked up again but is still below its previous highs.
• A break below the S$0.495 could see more selling pressure set in. The next support is at S$0.445 and S$0.385.
Swiber Holdings Limited is an offshore marine support company. The Company services include engineering, procurement, and construction services.
Fraser & Neave (FNN SP; S$2.71) – SELL
• The stock is now at a critical juncture. It needs to breakout and close above the S$2.72-2.75 resistance trend line to turn bullish again. If the resistance is broken, then the next resistance is at S$3.00.
• However, we think that this resistance will not give way so easily. MACD and RSI are still marginally positive but they are below their previous highs. It could potentially be a negative divergence here but we need further confirmation.
• Nevertheless, we think that it may be wise to take some profit here. If the breakout does take place, then investors could still get back in albeit at a slightly higher level. However, if the breakout fails to materialise, then it could ease to test its support at S$2.55 and S$2.38.
Fraser and Neave Limited produces and sells soft drinks, beer, stout, dairy products, and glass containers. The Company also operates publishing and printing businesses and develops and invests in properties.
• Golden Agri (GGR) posted a dark cloud cover candle last week. It is also trading very near a cluster of resistances, which increases the chance of a reversal. S$0.385-0.40 and S$0.42 are strong resistances.
• Technical indicators are starting to weaken with the MACD and RSI hooking downwards. RSI has also issued a sell signal last week.
• Any rebound towards the resistance levels should be seen as a chance to sell. Immediate support is at S$0.35, but we do not expect this level to hold.Stronger support is at S$0.32 and S$0.29.
Golden Agri-Resources Limited cultivates, harvests, processes, distributes, and sells crude palm oil and palm kernel. The Company also refines crude palm oil into cooking oil, margarine, and shortening for sale and distribution.
Swiber Holdings (SWIB SP; S$0.515) – SELL
• Appears to be hitting robust resistances. The bearish implication of last Thursday’s candle would likely be felt soon. Take profits now as resistance at S$0.525 and S$0.56 is likely to cap any more upside for now.
• MACD is flattening out suggesting that the buying momentum is starting to ease. RSI has hooked up again but is still below its previous highs.
• A break below the S$0.495 could see more selling pressure set in. The next support is at S$0.445 and S$0.385.
Swiber Holdings Limited is an offshore marine support company. The Company services include engineering, procurement, and construction services.
Fraser & Neave (FNN SP; S$2.71) – SELL
• The stock is now at a critical juncture. It needs to breakout and close above the S$2.72-2.75 resistance trend line to turn bullish again. If the resistance is broken, then the next resistance is at S$3.00.
• However, we think that this resistance will not give way so easily. MACD and RSI are still marginally positive but they are below their previous highs. It could potentially be a negative divergence here but we need further confirmation.
• Nevertheless, we think that it may be wise to take some profit here. If the breakout does take place, then investors could still get back in albeit at a slightly higher level. However, if the breakout fails to materialise, then it could ease to test its support at S$2.55 and S$2.38.
Fraser and Neave Limited produces and sells soft drinks, beer, stout, dairy products, and glass containers. The Company also operates publishing and printing businesses and develops and invests in properties.
Thursday, March 19, 2009
Sell Keppel Land, Suntec Reit, F&N Technically
Keppel Land (KPLD SP; S$1.24) – SELL
• It broke below its consolidation triangle and hit a low of S$0.985. It has since rebounded to retest the breakdown level of S$1.28. Again, there is a cluster of resistances around these levels. Its 30-day SMA is also at S$1.28.
• Daily MACD has confirmed its positive cross but the momentum is weak while RSI is still below the neutral mark. Note that the RSI is no longer oversold now, which suggests that there is room on the downside from here.
• The stock remains a sell on strength. Its tough resistance is at S$1.30 is unlikely to be broken now. It could retest its recent lows of S$0.985 again in the coming days. A break below it could see the stock fall to its 2002 lows at S$0.89 before bottoming out. Only a break above the S$1.42 levels would cancel this downside target.
Keppel Land is the property arm of the Keppel Group, one of Singapore’s largest multinational groups with key businesses in offshore and marine, infrastructure, and property.
Fraser & Neave (FNN SP; S$2.17) – SELL
• The stock fell to a new 52-week low at S$1.85 before rebounding to retest the October lows at S$2.20. Again, the stock is now facing heavy resistances around these levels. Its 30-day SMA at S$2.40 would form the upper resistance level. A breakout above these levels would likely cancel out the downside targets.
• Indicators are mostly positive with only the RSI starting to hook down lower. This could be a sign pointing to weakness in the bulls. The longer term charts are still looking negative.
• Hence, this minor rebound should be seen as an opportunity to take profits. A reversal from here could see the stock fall back to close the gap at S$2.05- 2.07. Should the stock fall further below the gap, then it could easily retest the S$1.85 lows again.
Fraser and Neave is one of Southeast Asia's leading companies and its core businesses are the production and sale of soft drinks, beer & stout, dairy products; property investment and development and publishing and printing.
Suntec REIT (SUN SP; S$0.50) – SELL
• The stock hit a new all time low of S$0.495 yesterday but closed marginally higher. This new all time low suggests that the stock is technically weak. Avoid buying the stock until a short term bottom has been formed.
• The stock is still a Sell despite an oversold RSI. MACD has remained negative supports our view of selling on rebounds.
• It could continue to drift lower towards its next support levels at S$0.46 and S$0.42 next. Resistance is seen at S$0.55 and S$0.58. Continue to sell on rebound.
Suntec REIT owns prime office and retail space in the Central Business District of Singapore. Their portfolio was underpinned by a diversified pool of more than 411 retail and 124 office tenants as of 30 September 2007.
• It broke below its consolidation triangle and hit a low of S$0.985. It has since rebounded to retest the breakdown level of S$1.28. Again, there is a cluster of resistances around these levels. Its 30-day SMA is also at S$1.28.
• Daily MACD has confirmed its positive cross but the momentum is weak while RSI is still below the neutral mark. Note that the RSI is no longer oversold now, which suggests that there is room on the downside from here.
• The stock remains a sell on strength. Its tough resistance is at S$1.30 is unlikely to be broken now. It could retest its recent lows of S$0.985 again in the coming days. A break below it could see the stock fall to its 2002 lows at S$0.89 before bottoming out. Only a break above the S$1.42 levels would cancel this downside target.
Keppel Land is the property arm of the Keppel Group, one of Singapore’s largest multinational groups with key businesses in offshore and marine, infrastructure, and property.
Fraser & Neave (FNN SP; S$2.17) – SELL
• The stock fell to a new 52-week low at S$1.85 before rebounding to retest the October lows at S$2.20. Again, the stock is now facing heavy resistances around these levels. Its 30-day SMA at S$2.40 would form the upper resistance level. A breakout above these levels would likely cancel out the downside targets.
• Indicators are mostly positive with only the RSI starting to hook down lower. This could be a sign pointing to weakness in the bulls. The longer term charts are still looking negative.
• Hence, this minor rebound should be seen as an opportunity to take profits. A reversal from here could see the stock fall back to close the gap at S$2.05- 2.07. Should the stock fall further below the gap, then it could easily retest the S$1.85 lows again.
Fraser and Neave is one of Southeast Asia's leading companies and its core businesses are the production and sale of soft drinks, beer & stout, dairy products; property investment and development and publishing and printing.
Suntec REIT (SUN SP; S$0.50) – SELL
• The stock hit a new all time low of S$0.495 yesterday but closed marginally higher. This new all time low suggests that the stock is technically weak. Avoid buying the stock until a short term bottom has been formed.
• The stock is still a Sell despite an oversold RSI. MACD has remained negative supports our view of selling on rebounds.
• It could continue to drift lower towards its next support levels at S$0.46 and S$0.42 next. Resistance is seen at S$0.55 and S$0.58. Continue to sell on rebound.
Suntec REIT owns prime office and retail space in the Central Business District of Singapore. Their portfolio was underpinned by a diversified pool of more than 411 retail and 124 office tenants as of 30 September 2007.
Thursday, March 5, 2009
Sell Golden Agri, F&N, Hong Kong Land (technically)
Golden Agri-Resources (GGR SP; S$0.29) – SELL
• The stock broke below its short term uptrend channel and has been tradingsideways since then. The breakdown also suggests that the longer termdowntrend has resumed. Resistance is at S$0.30 and S$0.33.
• Its MACD just confirmed its dead cross while RSI has hooked down afterfailing to climb above its trend line.
• On the most bearish case, the stock could fall below the S$0.165. For now,S$0.26 and S$0.21 could be tested soon. Since it is trading below its 30-daySMA, investors would likely do well selling on strength.
Golden Agri-Resources Limited cultivates, harvests, processes, distributes, andsells crude palm oil and palm kernel. The Company also refines crude palm oilinto cooking oil, margarine, and shortening for sale and distribution.
Hongkong Land Holdings (HKL SP; US$1.87) – SELL
• Has dropped below its consolidation triangle support at US$2.00. Thedownside break could induce further selling on the stock with the next supportat US$1.78 and US$1.50.
• Both MACD and RSI have turned negative, suggesting that the sellingmomentum could be picking up.
• Resistance is seen at US$2.00 and US$2.20-2.25.
Hongkong Land Holdings Limited invests in and develops commercial properties.The Company owns and manages prime office and retail space in Hong Kong.Through its subsidiaries, the Company also develops commercial and residentialbuildings as well as infrastructure in Asia.
Fraser & Neave (FNN SP; S$2.04) – SELL
• The stock fell to a new 52-week low yesterday. The next strong support is atS$2.00 and S$1.70.
• Indicators continue to portray weakness but the oversold RSI could prompt aminor rebound.
• A minor rebound could take place soon. Sell on rebound towards the S$2.20and S$2.35 resistance levels.
Fraser and Neave Limited produces and sells soft drinks, beer, stout, dairyproducts, and glass containers. The Company also operates publishing andprinting businesses and develops and invests in properties.
• The stock broke below its short term uptrend channel and has been tradingsideways since then. The breakdown also suggests that the longer termdowntrend has resumed. Resistance is at S$0.30 and S$0.33.
• Its MACD just confirmed its dead cross while RSI has hooked down afterfailing to climb above its trend line.
• On the most bearish case, the stock could fall below the S$0.165. For now,S$0.26 and S$0.21 could be tested soon. Since it is trading below its 30-daySMA, investors would likely do well selling on strength.
Golden Agri-Resources Limited cultivates, harvests, processes, distributes, andsells crude palm oil and palm kernel. The Company also refines crude palm oilinto cooking oil, margarine, and shortening for sale and distribution.
Hongkong Land Holdings (HKL SP; US$1.87) – SELL
• Has dropped below its consolidation triangle support at US$2.00. Thedownside break could induce further selling on the stock with the next supportat US$1.78 and US$1.50.
• Both MACD and RSI have turned negative, suggesting that the sellingmomentum could be picking up.
• Resistance is seen at US$2.00 and US$2.20-2.25.
Hongkong Land Holdings Limited invests in and develops commercial properties.The Company owns and manages prime office and retail space in Hong Kong.Through its subsidiaries, the Company also develops commercial and residentialbuildings as well as infrastructure in Asia.
Fraser & Neave (FNN SP; S$2.04) – SELL
• The stock fell to a new 52-week low yesterday. The next strong support is atS$2.00 and S$1.70.
• Indicators continue to portray weakness but the oversold RSI could prompt aminor rebound.
• A minor rebound could take place soon. Sell on rebound towards the S$2.20and S$2.35 resistance levels.
Fraser and Neave Limited produces and sells soft drinks, beer, stout, dairyproducts, and glass containers. The Company also operates publishing andprinting businesses and develops and invests in properties.
Friday, February 20, 2009
Sell Jardine Matheson, Hyflux, F&N - Technically
Fraser & Neave (FNN SP; S$2.50) – SELL
The upside is likely to be capped at S$2.72 and its 30-day SMA at S$2.93.
• The stock gapped lower and followed through selling sent the price lower, forming a negative black candle. More selling is expected to follow suit with the next level of support at S$2.38 and S$2.20 (its low in Oct 08). Breaking below could induce further selling.
• Daily MACD is negative and RSI is heading lower.
• The upside is now likely capped by its gap at S$2.72 and its 30-day SMA at S$2.93.
Hyflux (HYF SP; S$1.77) – SELL
Stock could ease lower to close the gap at S$1.51-1.57 soon. The following support is at S$1.43.
• The stock broke below its consolidation triangle after falling below its support and 30-day SMA at S$1.80.
• Indicators are mixed at the moment. Its MACD is still negative but its RSI has hooked up sharply.
• Until a breakout above the S$1.80-1.88 resistance levels, the stock is still in a bearish phase. The stock could ease lower to close the gap at S$1.51-1.57 soon. The following support is at S$1.43.
Jardine Matheson (JM SP; US$17.50) – SELL
A short term rebound is possible but we expect the stock to head lower again to retest its Oct-lows at US$14.52.
• The stock reversed its downtrend yesterday with a hammer-like candle. This could probably lift the stock to close the gap at US$18.40 and possibly even US$20.00 resistance levels.
• MACD is still negative but improving while RSI is now oversold suggesting that a rebound could take place.
• As the longer term trend is still bearish, any rebound should be seen as an opportunity to sell. After this rebound, we expect the stock to head lower again to retest its Oct lows at US$14.52.
The upside is likely to be capped at S$2.72 and its 30-day SMA at S$2.93.
• The stock gapped lower and followed through selling sent the price lower, forming a negative black candle. More selling is expected to follow suit with the next level of support at S$2.38 and S$2.20 (its low in Oct 08). Breaking below could induce further selling.
• Daily MACD is negative and RSI is heading lower.
• The upside is now likely capped by its gap at S$2.72 and its 30-day SMA at S$2.93.
Hyflux (HYF SP; S$1.77) – SELL
Stock could ease lower to close the gap at S$1.51-1.57 soon. The following support is at S$1.43.
• The stock broke below its consolidation triangle after falling below its support and 30-day SMA at S$1.80.
• Indicators are mixed at the moment. Its MACD is still negative but its RSI has hooked up sharply.
• Until a breakout above the S$1.80-1.88 resistance levels, the stock is still in a bearish phase. The stock could ease lower to close the gap at S$1.51-1.57 soon. The following support is at S$1.43.
Jardine Matheson (JM SP; US$17.50) – SELL
A short term rebound is possible but we expect the stock to head lower again to retest its Oct-lows at US$14.52.
• The stock reversed its downtrend yesterday with a hammer-like candle. This could probably lift the stock to close the gap at US$18.40 and possibly even US$20.00 resistance levels.
• MACD is still negative but improving while RSI is now oversold suggesting that a rebound could take place.
• As the longer term trend is still bearish, any rebound should be seen as an opportunity to sell. After this rebound, we expect the stock to head lower again to retest its Oct lows at US$14.52.
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