Ernest’s market outlook (27 Jan 17)

January 29, 2017 el15

Dear all, Happy Chinese New Year! How is your Rooster Year so far? S&P500 and STI reached near, or at my near-term resistances. What’s next? S&P500 Just to recap what I have mentioned on 13 Jan 2017 (see HERE), I wrote “It is clear that S&P500 continues to on an uptrend amid rising EMAs. S&P500 closed at 2,275 on 13 Jan 2017. Since 8 Dec 2016, S&P500 has been consolidating between 2,238 – 2,278 and it seems to be staging an upside breakout. A sustained break above 2,278 / below 2,238 points to an eventual measured technical target 2,318 […]

Dairy Farm – hits 18 month high, all-time overbought since 1990! (27 Jan 17)

January 28, 2017 el15

Dairy Farm hits another 18-month high on 27 Jan 2017. It has risen consecutively for the past six trading days and has surged 13.3% from an intraday low of $7.28 on 20 Jan 2017 to $8.25 on 27 Jan 2017. This has significantly outperformed the STI, as STI was only higher by 2.0% over the same period. How high can Dairy Farm go? Read on below for its chart analysis… Chart analysis Based on Chart 1 below, Dairy Farm is on a strong uptrend, as depicted by its upwards sloping exponential moving averages (EMAs). All the EMAs are rising. […]

Ernest’s market outlook (13 Jan 17)

January 15, 2017January 15, 2017 el15

Dear all, STI performs to my expectations as it heads towards 3,040 (my eventual technical measured target price which I mentioned previously). What’s next? For the charts analysis below, you can cross – reference to my market outlook sent on 6 Jan 17 HERE. (Actually, my bi weekly market update should be done next week. However, I noticed that the market seems to be reaching some near-term potential resistances. Hence, I decided to do a market update. Due to time constraints, I did not put in Hang Seng analysis for this issue) S&P500 Based on Chart 1 below, it […]

ISOTeam on the verge of a potential bullish chart breakout (9 Jan 2017)

January 10, 2017 el15

ISOTeam recently caught my attention with a surge in price, accompanied with volume. Based on Chart 1 below, ISOTeam has been trading in a tight range of $0.375 – 0.405 since 30 Aug 2016. ISOTeam closed unchanged at $0.395 on 9 Jan 2017. All the exponential moving averages (“EMAs”) are turning higher with 20D EMA on the verge of forming a golden cross with 50D EMA. Amid positive placed DIs, ADX has turned higher from 17 on 27 Dec 2016 to 30 on 9 Jan 2017, indicative of a trend. OBV has strengthened, together with other indicators such as RSI […]

Ernest’s market outlook (6 Jan 2017)

January 7, 2017 el15

Dear readers, Two weeks ago, I mentioned that although Hang Seng is in a downtrend, it may rebound as oversold pressures build. Hang Seng jumped 928 points in the past two weeks. What lies ahead? S&P500 Index Just to recap what I have mentioned on 23 Dec 2016 (see HERE), I wrote “S&P500 is consolidating its gains for the past two weeks. It continues to be on a clear uptrend amid rising exponential moving averages (“EMAs”). ADX continues to rise from 36 on 9 Dec 2016 to 39 on 23 Dec 2016 on the backdrop of positive placed directional […]

Sapphire – disposal of Mancala, implications and updates (30 Dec 16)

January 2, 2017January 2, 2017 el15

On the last trading day of the year, Sapphire Corp announced that it has entered into conditional sale and purchase agreements (collectively, the “SPAs”) with each of China Vanadium Titano-Magnetite Mining Company Limited (“CVT”) and Toe Teow Heng (“TTH”) relating to its mining services business, Mancala. Is this a positive or negative development? What are the implications? Let’s take a closer look. Disposal of Mancala and its implications Subject to the terms and conditions of the SPAs, CVT and TTH have agreed to acquire 49% and 32% of the issued and paid up capital of Mancala Holdings for a […]