StarHub - Big sell down!

StarHub had big sell down with huge volume for two days and closed at $2.00 as StarHub lost its bid on English Premier League rights for 2010-2013 seasons to SingTel. The stock price broke 200D MA support line and $2.01 level (38.2% Fibonacci Retracement level).

The stock price may move further down as StarHub's future earnings will be affected. Will continue to monitor this after shock effect of StarHub stock price and have no hurry to enter the trade until StarHub's management give a new guidance in the coming quarterly earning briefing. StarHub dividend will probably be affected as well.

StarHub - A defensive stock with good dividend

Current Price (today closed) = $2.18
PE = 12
Dividend Yield = 8.3%

I plan to buy this stock as long term investment to collect dividend. It is much better than putting money in the bank.
The stock price may go down trend if 20D and 50D MA support are broken. I plan to start accumulating at $2.10 as my first entry level.  $2.07 is a very strong support level as it is a 200D MA support and 50% of the Fibonacci retracement level.

China Fishery - new support and resistance levels

I'd redrawn the Fibonacci support & resistance levels after China Fishery broke the $1.422 resistance. Currently the stock price is testing $1.458 resistance and the volume is picking up. If this resistance is broken, China Fisher has chance to go up to $1.568 and eventually $1.616 (161.8% Fibonacci).

FRE & FNM move into consolidation

Both FRE & FNM demonstrate the same chart patterns and move into consolidation phase after heavy trading last month. Both stock prices are above 20D, 50D and 200D MA but volumes are dropping.

FRE 61.8% Fibonacci support level at $1.714. It is a good entry level for long term investment if the stock price stays above this support line.

FNM 61.8% Fibonacci support level at $1.483. It is a good entry level for long term investment if the stock price stays above this support line.

 

Note: FRE & FNM do not meet my stock selection criteria.

China Zaino - another S-chip stock is swinging in the channel!

Spotted another S-chip stock China Zaino besides Synear and China Hongxing. The patterns for these three stocks are very similar (had breakout and swing inside the up trend channel). China Zaino's fundamental is pretty solid and can be kept as value investment. My strategy for this stock is to buy some for long term investment and some for short term momentum investment. Target entry point is $0.28 and exit point is $0.335 (about 20% profit target).  Next strong support is $0.27 (61.8% Finonacci Retracement level).

Allgreen - breaking out from an ascending triangle soon!

Allgreen has a very strong resistance of $1.24 to break.  If Allgreen fails the breakout in the next few days, it probably will retrace back to $0.90 (61.8% Fibonacci Retracement).

Capitaland - forming a triple top?

Today Capitaland looks like having a breakout from a triangle. The stock price is also moving away from the 20D & 50D MA support line. MACD is showing bullish convergence again. Is Capitaland forming a Triple Tops first before reversing the trend? I will still continue to stay out of this stock because upside is limited as it has very strong resistance at $4.14. Downside probabality is much higher than upside probability, upside potential is only 7.8% (from $3.84 to $4.14) while downside is 16% ($3.84 to $3.22). $3.22 is next support level base on 61.8% Fibonacci Retracement.

Cosco - will be breaking out from the triangle soon!

What goes up must come down, what come down must go up! Although Cosco's stock price has been beaten down recently, it has very big upside potential in the long term although the current fundamental is not really fantastic.


There are signs that Cosco will be breaking out from the triangle soon. The gyration of the wave is getting smaller as every day goes by. The stock price is currently testing its 20D & 50D MA support line. If it breaks out from the triangle and move south, the next support line is $1.15 (61.8% Fibonacci Retracement). If it breaks out and move north, $1.45 will be a strong resistance.

3 Years Historical High = $7.9
Current Price = $1.25 (16% of the 3 years historical high)

Raffles Education - Bounced back from 200D MA & reversed the trend!

What a big difference within a week! Last week the chart looked so bearish but today the stock price closed at $0.53 (with 48 million shares traded, #9 most active stocks of the day) showing a "Three Inside Up" reversal pattern after bounced back from 200D MA trend support of $0.51. Technical Indicators like Parabolic SAR, MACD, RSI and Stochastic are showing sign of reversal of bearish trend to bullish trend.

I was unable to resist this golden opportunity and entered the trade at $0.525 this evening. The support levels are pretty strong at $0.51 (200D MA) & $0.535 (61.8% Fibonacci Retracement Level).

Epure International - Double Tops Formation

Epure has formed a double top and probably will start the down trend and retrace back to $0.45 base on 61.8% Fibonacci Retracement by latest end Dec, 2009 (base on Fibonacci Fan).

Epure International is a Leading Water and Wastewater Treatment Solutions Provider and recently won a number of projects. Expect good earning in the near future the projects are completed and revenues are recognised.

China HongXing - trying to break strong resistance of $0.215

Another hot China stocks trying to breakout from the strong resistance with increasing volume.


Resistance at $0.215. If the stock price break the resistance, it may go up to $0.268 (161.8% Fibonacci). The next strong support at $0.183 (61.8% Fibonacci retracement) and $0.156.

PE = 6.8
Dividend Yield = 1.25%
NAV = $0.3359

Base on Q2 2009 result:
Current Ratio = 25
Cash = $520 Million
Net Earning = 9.5%
ROA = 10.1% (2008 Full Year)
ROE = 11.6% (2008 Full Year)
3 Years Historical High = $1.42
Current Price = $0.215

Chartered has a nice uptrend wave with a solid Fibonacci fitting!

I am still losing money with Chartered shares. Besides waiting for the semiconnductor manufacturing recovery, the beautiful wave shown by CharteredSc tell us some story.


In addition, the stock price retraced back to 61.8% which is a solid Fibonacci retracement level. I should have bought more shares when the share price at $1.80. Frankly speaking, I was panic when it hit $1.80 and worried that whether the stock price will go lower WITHOUT looking at the chart (another lesson learnt for not analysing the chart constantly!). I am waiting for a big correction to happen before I invest this stock again. Isn't it a good stock to monitor as the company is going to be profitable again in the next one or two quarters and the chart is showing us a very nice wave? It looks more predictable on the stock price now.