Singapore Exchange (SGX) broke $6.00 psychological support and looks like breaking down from a Descending Triangle. Price target for the breakdown is $5.225. SGX is still on down trend channel

 Original Post from My Stocks Investing Journey.

The trading range is getting narrower for CityDev. A Descending Triangle is formed on CityDev and very close to the breakout. The previous post on the analysis on watching this $10.00 critical support is still valid. Short term price target of breaking down of this Descending Triangle is $8.50. 200D MA is trending down which is also a bearish sign. Base on the chart pattern, I don’t know how long the SUPERMAN can hold on this $10.00 support. So, it is better to play safe and RUN! Anyway, I am already in Short Position!

Synear is currently Forming A Descending Triangle. The support is about $0.21 to $0.22 level. Synear is on long term down trend as the 200D MA is slooping down. Watch out for a breakout.

Sinotel Fundamental Analysis

• Current Price = $0.335
• IPO Price = $0.464
• Current NAV = $0.365
• Current PE = 4.57
• Rolling PE = 4.64
• FY08 PE =6.68
• FY07 PE = 8.43
• Dividend Yield = None
• FY09 Net Profit Margin = 26.1%
• FY09 ROA = 17.3%
• FY09 ROE = 23.9%
• FY09 Current Ratio = 3.34
• FY09 Debt to Equity = 0.294

Sinotel Current Chart Pattern

Sinotel is forming a Descending Triangle with the support at $0.329. Breaking below this support level will continue Sinotel down trend. Also take note that Sinotal is currently trading below 20D, 50D and 200D MA.

In Summary, Sinotel fundamental looks good and currently price is not overvalue comparing current & Rolling PE with the past PE.  As long as Sinotel can stay above $0.329, current level looks like a good entry level.

Sinomem Fundamental Analysis

• Current Price = $0.485
• IPO Price = $0.44
• Current NAV = $0.534
• Current PE = 10.5
• Rolling PE = 7.2
• Dividend Yield = 2.06%
• FY09 Net Profit Margin = 17.7%
• FY09 ROA = 6.6%
• FY09 ROE = 9.2%
• FY09 Current Ratio = 2.16
• FY09 Debt to Equity = 0.13

Sinomem Current Chart Pattern

 Sinomem is currently forming a Descending Triangle with a very strong support at $0.47 (which is also a 61.8% Fibonacci Retracement Support). Breaking below this support level will give a very bearish chart pattern for Sinomem. However, breaking out from this Descending Triangle will send Sinomem to minimum price target of $0.72. Base on current PE ratio, this stock is not over value.

Base on Fundamental & Chart Pattern Analysis, Sinomem is not for long term value investing but good for short term trading when breakout. This analysis base on my own stock selection criteria.

If Synear breaks the support at $0.222 (38.2% FR Level), a “Lower High, Lower Low” bearish down trend pattern will be seen on Synear. If Synear is able to hold above this support level, A Descending Triangle chart pattern may be formed and we just need to wait for the breakout to determine future trend. Take note that all three moving averages 20D, 50D and 200D MA are trending down.

Follow up on Swiber last analysis. Swiber looks like breaking out from a Descending Triangle. Currently Swiber retraces back to test the support at the breakout point at about $1.05.  This is a very important four-in-one support where 20D, 50D, 200D MA and 78.6% Fibonacci Retracement Level meet at this level.

Things to watch out for:

• Look for trend reversal candlesticks when rebound from this support level.
• If Swiber reverses and breaks the recent new high of $1.15, the breakout is successful and the price target is about $1.30.

Oceanus is forming a Falling Wedge or a potential Descending Triangle.

• Immediate support is at $0.317 which is a 61.8% Fibonacci Retracement Level.
• Immdiate resistance is at about $0.35 which is the wedge resistance or 200D MA resistance.

No clear direction until breakout.

SGX is still trading within a long term Broaden Descending Wedge (Green). In a medium term, SGX has formed a Descending Triangle (Blue) in 3 months.  Currently SGX is testing the Descending Triangle’s resistance (at about $7.596) but this resistance is quite challenging to be broken as it is also combination of 20D MA, 50D MA and 23.6% Fibonacci Retracement Level). Also take note that “Lower High, Lower Low” pattern have been formed on the chart and SGX looks bearish in the long term. Upside potential is capped at about $7.85 which is also the 200D MA. 200D MA line has also started the down trend and that is another reason to be concerned. My price target for the breakdown remain to be the same, which is $6.30 or lower for the time being.