Hyflux=$2.30 (Reaching target, ready to sell)
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Showing posts with label Hyflux. Show all posts
Showing posts with label Hyflux. Show all posts
Monday, June 15, 2009
Monday, June 1, 2009
Friday, May 29, 2009
Hyflux - Ascending triangle breakout suggests potential upside
Hyflux could be poised for more upside in the weeks ahead after breaking above the top boundary of its 6-month ascending triangle. It has also closed above the $2.00 key level (last seen in early Oct ’08) on heavy volume in yesterday’s trading session.
- The RSI has rebounded sharply off its 2.5-month uptrend line and MACD has made a bullish crossover after rebounding off its 6-month uptrend line; both suggesting a strong uptrend momentum. However, on a cautious note, we advocate waiting for a successful retest of this resistance-turned-support level which should further serve as confirmation of the breakout.
- Immediate support is pegged at $1.72 (recent troughs in Apr ’09 – May ‘09), ahead of $1.56 (gap zone in Mar ’09 and bottom boundary of ascending triangle).
- Should the breakout materialize, we expect an initial resistance at $2.40(key gap zone in early Oct ‘08), breaking which, we see the next resistance at $2.91 (Sep ’08 high and ascending triangle breakout theoretical price target).
Friday, April 24, 2009
Friday, April 17, 2009
Friday, March 20, 2009
Sell Tehnically Hyflux, SembCorp, SGX
Hyflux (HYF SP; S$1.44) – SELL
• The stock broke below its consolidation triangle and continued to fall to recent lows. Yesterday’s sharp fall as formed a bearish engulfing candle on its daily chart. The downtrend would likely continue with a test of S$1.34 and S$1.21 support again before a bottom is formed.
• Technical readings on its indicators are mild positive and losing momentum. The RSI is no longer oversold, suggesting that the stock could still fall from here.
• Any rebound should be seen as an opportunity to sell into strength. Resistance is at S$1.50 and S$1.64.
Hyflux is a water treatment specialist providing integrated treatment systems for advanced water treatment and membrane filtration. It also provides one-stop shop service for the design, fabrication, installation, commissioning and maintenance of treatment systems for water purification, wastewater treatment and water recycling.
SembCorp Industries (SCI SP; S$2.07) – SELL
• The stock appears to be well support above the S$2.00 support. It is now forming a descending triangle. A break below the S$2.00 support is bearish.
• Indicators are mixed at the moment but the sharp hook down on its RSI is slightly bearish for the stock.
• Falling below its 30-day SMA is also another bearish signal. Maintain a sell on strength strategy for now with the next support at S$1.70 if the S$2.00 support fails. Resistance is at S$2.25 and S$2.41.
SembCorp Industries’ principal activities are those of an investment holding company, as well as the corporate headquarters, which gives strategic direction and provides management services to its subsidiaries.
Singapore Exchange (SGX SP; S$4.70) – SELL
• The stock has rebounded from a low of S$4.00 to current levels. It tested its strong resistance at S$4.90-5.00 but failed to breakout. It is now sitting just above its 30-day SMA.
• MACD has stayed positive but the RSI is slowly turning down again. If the stock can hold above its 30-day SMA, then we could see a retest of its strong resistance at the S%5.00 levels.
• However, a break below the S$4.67 level could send the stock lower S$4.48 and S$4.30. Since the longer term trend is still down, we prefer to sell on strength for now.
SGX owns and operates the only integrated securities exchange and derivatives exchange in Singapore and their related clearing houses. The securities exchange was the first fully electronic and floorless exchange in Asia.
• The stock broke below its consolidation triangle and continued to fall to recent lows. Yesterday’s sharp fall as formed a bearish engulfing candle on its daily chart. The downtrend would likely continue with a test of S$1.34 and S$1.21 support again before a bottom is formed.
• Technical readings on its indicators are mild positive and losing momentum. The RSI is no longer oversold, suggesting that the stock could still fall from here.
• Any rebound should be seen as an opportunity to sell into strength. Resistance is at S$1.50 and S$1.64.
Hyflux is a water treatment specialist providing integrated treatment systems for advanced water treatment and membrane filtration. It also provides one-stop shop service for the design, fabrication, installation, commissioning and maintenance of treatment systems for water purification, wastewater treatment and water recycling.
SembCorp Industries (SCI SP; S$2.07) – SELL
• The stock appears to be well support above the S$2.00 support. It is now forming a descending triangle. A break below the S$2.00 support is bearish.
• Indicators are mixed at the moment but the sharp hook down on its RSI is slightly bearish for the stock.
• Falling below its 30-day SMA is also another bearish signal. Maintain a sell on strength strategy for now with the next support at S$1.70 if the S$2.00 support fails. Resistance is at S$2.25 and S$2.41.
SembCorp Industries’ principal activities are those of an investment holding company, as well as the corporate headquarters, which gives strategic direction and provides management services to its subsidiaries.
Singapore Exchange (SGX SP; S$4.70) – SELL
• The stock has rebounded from a low of S$4.00 to current levels. It tested its strong resistance at S$4.90-5.00 but failed to breakout. It is now sitting just above its 30-day SMA.
• MACD has stayed positive but the RSI is slowly turning down again. If the stock can hold above its 30-day SMA, then we could see a retest of its strong resistance at the S%5.00 levels.
• However, a break below the S$4.67 level could send the stock lower S$4.48 and S$4.30. Since the longer term trend is still down, we prefer to sell on strength for now.
SGX owns and operates the only integrated securities exchange and derivatives exchange in Singapore and their related clearing houses. The securities exchange was the first fully electronic and floorless exchange in Asia.
Thursday, March 12, 2009
Sell Hyflux, NOL, Keppel Land
Hyflux (HYF SP; S$1.40) – SELL
• The stock broke below its consolidation triangle and continued to fall to recent lows. The downtrend has not ended as it would likely test the S$1.21 and S$1.11 lows again before a bottom is formed.
• Technical readings on its indicators are negative but the oversold RSI may keep the stock steady for a little while longer.
• Any rebound should be seen as an opportunity to sell into strength. Resistance is at S$1.50 and S$1.64.
Hyflux is a water treatment specialist providing integrated treatment systems for advanced water treatment and membrane filtration. It also provides one-stop shop service for the design, fabrication, installation, commissioning and maintenance of treatment systems for water purification, wastewater treatment and water recycling.
Neptune Orient Lines (NOL SP; S$0.865) – SELL
• The stock broke below its trend line support from its Nov lows and has fallen to below its October lows. The downtrend does not appear to have run its course yet. Expect more downside from here.
• MACD and RSI have hooked downwards. Resistance is at S$0.93-0.94 and S$1.04. RSI is deeply oversold now.
• S$0.83 is likely the next level to be tested next followed by a minor rebound. There is also a chance that the stock could fall to S$0.75 but we would have to see if the S$0.83 support breaks. Maintain sell on strength. The next support is at S$0.66-0.68.
Neptune Orient Line’s principal activities include the owning and operating of vessels and participating in ventures with third parties in operations related to shipping; incidental to the Company’s principal activities is the disposal of certain fixed assets, including shipping-related equipment and vessels.
Keppel Land (KPLD SP; S$0.995) – SELL
• Broke below its consolidation descending triangle which suggests that there would be more weakness ahead. It could retest its 2002 lows at S$0.89 before bottoming out. It could even fall lower but we see some support around the 2002 lows.
• Daily MACD has confirmed its dead cross and continue to be negative while RSI is now oversold.
• A minor rebound could take place soon but the stock is still a sell on strength. Its tough resistance at S$1.30 is unlikely to be broken for now. S$1.13 is a minor resistance.
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.
• The stock broke below its consolidation triangle and continued to fall to recent lows. The downtrend has not ended as it would likely test the S$1.21 and S$1.11 lows again before a bottom is formed.
• Technical readings on its indicators are negative but the oversold RSI may keep the stock steady for a little while longer.
• Any rebound should be seen as an opportunity to sell into strength. Resistance is at S$1.50 and S$1.64.
Hyflux is a water treatment specialist providing integrated treatment systems for advanced water treatment and membrane filtration. It also provides one-stop shop service for the design, fabrication, installation, commissioning and maintenance of treatment systems for water purification, wastewater treatment and water recycling.
Neptune Orient Lines (NOL SP; S$0.865) – SELL
• The stock broke below its trend line support from its Nov lows and has fallen to below its October lows. The downtrend does not appear to have run its course yet. Expect more downside from here.
• MACD and RSI have hooked downwards. Resistance is at S$0.93-0.94 and S$1.04. RSI is deeply oversold now.
• S$0.83 is likely the next level to be tested next followed by a minor rebound. There is also a chance that the stock could fall to S$0.75 but we would have to see if the S$0.83 support breaks. Maintain sell on strength. The next support is at S$0.66-0.68.
Neptune Orient Line’s principal activities include the owning and operating of vessels and participating in ventures with third parties in operations related to shipping; incidental to the Company’s principal activities is the disposal of certain fixed assets, including shipping-related equipment and vessels.
Keppel Land (KPLD SP; S$0.995) – SELL
• Broke below its consolidation descending triangle which suggests that there would be more weakness ahead. It could retest its 2002 lows at S$0.89 before bottoming out. It could even fall lower but we see some support around the 2002 lows.
• Daily MACD has confirmed its dead cross and continue to be negative while RSI is now oversold.
• A minor rebound could take place soon but the stock is still a sell on strength. Its tough resistance at S$1.30 is unlikely to be broken for now. S$1.13 is a minor resistance.
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.
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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