Hong Fok chart 19 Mar 19

Hong Fok hits 10-year overbought level and up 12 out of 13 trading days! (19 Mar 19)

This week, Hong Fok catches my attention this week because a) It has risen approximately 33% in 12 out of the past 13 trading days from an intraday low of $0.685 on 28 Feb 2019 to close $0.910 today. It is noteworthy the 13th day is at an unchanged level. In other words, Hong Fok has not had a down day since 28 Feb 2019; b) At $0.910, this is near its 25 Oct 2015 high of around $0.91-0.920. The previous high which is higher than $0.920 occurred in Sep 2014. I.e. Hong Fok is trading near a four plus […]

Hi-P chart 21 Feb pm

Hi-P – Chart looks interesting with rising ADX, amid positively placed DI (21 Feb 19)

This week, Hi-P caught my attention due to its chart. It last trades at $0.990. Day range 0.985 – 1.00. Let’s take a look. Basis below 1.Chart looks interesting with rising ADX, amid positively placed DI Hi-P has been trading in a tight range $0.885 – 0.960 since 8 Jan 2019 and broke out with strong volume on 11 Feb 2019. ADX has been rising to trade 31.6 amid positively placed DI, indicative of a trend. RSI last trades 57.9. Today is T+8 of 11 Feb upmove. There has been some price weakness on 15 & 18 Feb as I […]

GSS chart dated 21 Dec 17

GSS announces oil, price drops to near pre announcement! (21 Dec 17)

GSS Energy (“GSS”) announced that it has struck oil and (surprise) gas in its first well on 13 Dec 2017. Share price jumped to an intraday high of S$0.178 on 14 Dec 2017, after the trading halt was lifted. It has since weakened to an intra-day low of S$0.156 on 21 Dec 2017 before closing at $0.161. Is the party in GSS over? Or is this just the beginning? I have managed to meet Mr Sydney Yeung, GSS’ CEO for a 1-1 chat two days ago on the company’s business and outlook.   Here are the key takeaways Q1. Previously, […]

Table 1_Top five stocks with the highest total potential return 10 Nov 17

Ernest’s market opinion (10 Nov 17)

Dear all STI has closed at 3,420, in line with my view that STI’s chart continues to be bullish (refer to my technical write-up on STI HERE), despite the elevated RSI.   1. Equities – still favour over bonds over 3-5 year time frame but… Personally, notwithstanding the market rally, I believe that over the long term, equities are still likely to outperform bonds and cash. Having said that, I am not telling all my clients to plough everything into stocks NOW, given that in the near term, there may not be significant catalysts to push the market higher by […]

Table 1_Geo Energy vs Golden Energy

Golden Energy – 4th largest in Indonesia but share price lags Geo Energy by a mile! (27 Mar 17)

Golden Energy (“GEAR”) has slumped 21% from $0.655 on 12 Dec 2016 to $0.515 on 27 Mar 2017. Compare this with a 47% rally in Geo Energy’s share price over the same period. Moreover, GEAR has slumped 10% post its results notwithstanding the strong set of results. Why is this so? I have managed to fix an exclusive 1-1 meetup with Mark Zhou, Head of investments, GEAR (“Management”) to find out more about the company’s business and prospects.   Key takeaways from the meetup Bullish on FY17F Management continues to be bullish about its outlook. Based on Chart 1 below, Indonesia, […]

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Can $ComfortDelGro(C52) regain its customers of taxi service? (1 Mar 17)

Can $ComfortDelGro(C52) regain its customers of taxi service? (guest post) Brief Background of ComfortDelGro: ComfortDelGro Corporation Limited is a Singapore-based investment holding and management services company. It operates in eight segments: 1) Bus & bus station 2) Rail 3) Taxi 4) car rental and leasing 5) automotive engineering services 6) inspection and testing service 7) driving centre and 8) insurance broking services and outdoor advertising.   Summary of ComfortDelGro’s recent financial performance:  The group maintains a steady growth of net profit despite a slight revenue decline caused by unfavourable currency translation this year. With the entrance and fierce competition brought by Uber […]

Midas chart as of 24 Feb 17

Midas issued positive profit alert! (24 Feb 17)

Dear all, Midas issued a positive profit alert yesterday. It cited “…based on the Board’s preliminary review of the unaudited management accounts of the Group for the year ended 31 December 2016, the Group expects to record a substantial increase by over 70% in its profit attributable to owners of the Company for the year ended 31 December 2016 as compared to the same period of previous year. Such increase was mainly attributable to the contribution from our Aluminium Stretched Plates Division which we completed the acquisition on 27 July 2016.” What does this mean?   My personal take on […]

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Trading is easy, isn’t it? [20 Nov 16] (Part 1)

If somebody says his profession is a trader, what will you immediately think of? I believe most people would immediately flash across thoughts of fine dining, fast cars and effortless work. Is this really the life of a trader? If it is so easy, why don’t we all jump onto the “trader” bandwagon? In my opinion, trading or punting without consistent profits and plans is easy but it is not recommended. It is akin to gambling. If we are referring to trading as a consistent means of earning our keep, it is not easy. Ask any professional trader and nine […]

sapphire-chart-as-of-17-oct-16

Sapphire – profit taking likely to taper off (17 Oct 2016)

Sapphire reached $0.365 on 10 Oct 2016, one bid below my measured eventual technical target of $0.370. Since then, it has fallen 14% to $0.315 on 17 Oct 2016. Will it continue to slide further?   Chart outlook Sapphire has largely been trading within the range of $0.240 – $0.305 since 25 Jan 2016 before it broke out on 6 Oct 2016 above $0.305 on heavy volume. As previously mentioned on my 19 Sep 2016 Sapphire’s write-up (click HERE), the upside breakout above $0.305 points to an eventual measured technical target of $0.370. This was attained when Sapphire reached $0.365 […]