City Development: Time to Short?

Base on current daily & weekly chart, City Development is showing bearish signal on 2/5 EMA. A Double Tops pattern is formed on Daily chart and currently CityDev is just sitting on the neckline of about $11.45 (currently forming a Bear Flag). Breaking down from this neckline will send CityDev to the target price of about $11.00 which is also the 61.8% Fibonacci Retracement Level & 50D SMA. On Weekly chart, a Evening Doji Star candlestick pattern was formed which is also the trend reversal pattern. Current chart pattern presents a good opportunity to short CityDev.

 

 

 

 

 

 

 

Key Statistics for CIT

Current P/E Ratio (ttm) 18.1201
Estimated P/E (12/2012 ) 17.3788
Earnings Per Share (SGD) (ttm) 0.6330
Est. EPS (SGD) (12/2012) 0.6600
Est. PEG Ratio
Market Cap (M SGD) 10,429.69
Shares Outstanding (M) 909.30
Enterprise Value (M SGD) (ttm) 14,145.29
Enterprise Value/EBITDA (ttm) 15.12
Price/Book (mrq) 1.4968
Price/Sale (ttm) 3.2986
Dividend Indicated Gross Yield 0.6975
Next Earnings Announcement 11/09/2012

US Market Indices Review: Dow Jones Industrial, S&P500, NASDAQ – THE RETURN OF THE BEAR?

All 3 US Key Indices Dow Jones Industrial, S&P500 and NASDAQ Composite faced sell off in the last 30 mins of trading hour. This is not really unexpected because I am predicting the stock market will turn to bear again after the recent 3 days strong rally because they are hitting the resistance. Fasten your seat beat in the coming week because I am anticipating another Bear Flag, ie. another big sell off!

 

 

 

US Market Indices Review: Dow Jones Industrial, S&P500, NASDAQ

Stock market staged an impressive rally last week with NO BAD NEWS. Is this the return of the Bull market? Base on the chart pattern, it looks like a Bear Market Rally as all 3 US indices Dow Jones Industrial, S&P500 and NASDAQ are forming a Bear Flag chart pattern. Both Dow Jones Industrial ($DIJ) and S&P500 ($SPX) are getting near the Flag Resistance and the 50D MA resistance, whereas NASDAQ has reached the Flag Resistance and the Triple Tops neckline. Watch out for the potential trend reversal pattern in the coming few days. Another scenario will be all 3 Indices break the Flag Resistance and 50D MA resistance. The Bull may return if this scenario happens.

 

 

Previous Analysis on Dow Jones Industrial, S&P500 and NASDAQ.