Market Sense 市场意识: April 2018

Market Sense

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Note:

All TA (Technical Analysis) view using charts are for illustration purpose only.

Unless otherwise specified, all charts' sources are from POEMS(Phillip Online Electronic Mart System)

Wednesday 11 April 2018

Suncity TA

It consolidated to a low around 0.464 and stay flat with low activity from Aug 2017 to Jan 21 2018.
From 22 Jan 2018 started to ramp up and hit high of 1.19
As of now at 11 Apr 2018 1.26pm, price at 0.8.
Level to watch
1.00 - short term resistance
0.80 - first critical uptrend support
0.74 to 0.6 - second support range with mid level at 0.7

(source : Poems Live Chart ) TA view for illustration purpose only

Monday 9 April 2018

Hang Seng Index Personal View using TA

After hitting the top at 33510 on 29 Jan 2018, Hang Seng Index, HSI reversed down and hit a low at 28570 on 10 Feb before rebounding to a lower high to around level 32000. From here it is consolidating down again and a downtrend channel was drawn on the short term daily chart, connecting the top 33510 and the lower high of 28750. As of current 9 Apr 2018 2pm HSI traded around 30200 level, where it is around the mid point of consolidating channel.

For short term movement, traders can consider sell into strength when it traded near to channel resistance around 31000 and above; and buy for a short term rebound near support level around 29000 level and below. (refer to short term daily chart)

Critical point to watch, using HSI long term monthly chart as reference, if support level 28605 break down convincingly, it may hint HSI uptrend run has ended and downtrend to begin.

Short term news/situation to watch

1)Trade war, especially between US and China...(but my personal view is there will not be negative outcome afterall)

2)Tech counters to continue consolidating? The current bull market run from 1 Feb 2016 low to 2018 has been mainly driven by technology stocks or NASDAQ boom... if tech counters were to fall back for a correction phase, it will drive to a deep pull back or market correction usually about 20%.

Long term monthly chart (Source: HSI monthly chart) TA view for illustration purpose only

Short term daily chart (Source: HSI daily chart) TA view for illustration purpose only

Wednesday 4 April 2018

SGX TA and FA

SGX plunged to low 7.2 on Feb 2018 when lost Indian derivatives business but rebound to 7.7 after announced will list successor products http://www.straitstimes.com/business/companies-markets/sgx-to-roll-out-nifty-successor-products-before-august
Phillip's latest research report on 14 Feb 2018:
Singapore Exchange Limited Market volatility will drive growth
As of now, SGX is traded at 7.28, near to the previous low support at 7.2.
Recommendation : can test water by buying a bit at the range of 7.28 - 7.2