Analyst 11 Sep 20

Riverstone – Is the recent 32% decline justified? (12 Sep 2020)

Riverstone recently caught my attention. It has tumbled approximately 32% from an intraday high of $4.90 on 7 Aug 2020 to close $3.33 on 11 Sep 2020. One client even thought that Riverstone has already undergone a bonus issue! The recent weakness is likely attributed to its co-founder selling 15.5m shares at $3.95 (Bloomberg cites a 90-day lockup on seller); the possibility of a vaccine resulting in demand for gloves and consequently their average selling price (“ASP”) falling off the cliff and some Malaysia investors selling shares to raise cash, as their moratorium on loan repayment ends (click HERE for […]

Sunpower chart 5 Nov 2019

Two stocks, ISOTeam and Sunpower with potential bullish stock charts (5 Nov 2019)

This week, two stocks, namely ISOTeam and Sunpower caught my attention with their potential bullish chart developments amid volume expansion.   1. ISOTeam Chart looks positive with strengthening indicators and volume Based on Chart 1 below, ISOTeam has been trading in a range $0.225 – 0.245 since 2 Aug 2019. ADX is starting to rise (closes at 18.7) amid positively placed DIs. In addition, indicators such as MACD, OBV and RSI are strengthening. MACD has done a bullish MACD line crossover and centerline crossover. A sustained breach above $0.245 with volume expansion is positive for the chart with an eventual […]

sti-chart-as-of-25-nov-16

Ernest’s market outlook (25 Nov 16)

Dear readers, S&P500 hits record high! Will STI follow suit? Read on for more.   S&P500 Index Just to recap what I have mentioned on 11 Nov 2016 (see HERE), I wrote “S&P500, after closing below its 100D exponential moving average (“EMA”) for six consecutive days, surged with volume and closed above its 100D EMA (currently 2,137) for five consecutive days. 21D EMA has just formed a golden cross with 50D EMA on 10 Nov 2016. Another positive feature is that the directional indicators (“DIs”) have turned positive with ADX closing at 28. S&P500 has closed above 2,157 for three […]

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Ernest’s market outlook (11 Nov 16)

Dear readers, Notwithstanding most experts’ dire predictions that Dow may plunge as much as 10% on Trump’s win, Dow closed at a record high AFTER Trump’s win! Read on for more.   S&P500 Index Just to recap what I have mentioned on 28 Oct 2016 (see HERE), I wrote “S&P500 closed below 100D EMA (currently 2,136) yesterday. As mentioned previously, S&P500 has not closed below its 100D EMA for three consecutive trading days since 1 Mar 2016. Thus, the price action around its 100D EMA is worth watching. After forming a death cross, 21D EMA is moving apart from 50D […]