Base on current daily and weekly chart, F&N is still on uptrend. F&N is still trading above 50D and 200D SMA. However, need to watch out for a few potential reversal signals:

• The stock seems like trading at Elliott Wave 5 now on Daily chart. If F&N completes Wave 5, a bearish corrective wave A-B-C will start.
• $6.80 is the previous resistance level and 50D SMA. Need to see whether F&N is able to hold above this $6.80 resistance turned support level.
• Shooting Star and Evening Star were formed at the historical high F&N stock price, these two are reversal candlestick patterns.
• 2/5 EMA is going to show bearish crossover on both daily and weekly chart.
• 2/5 EMA is going to cross down 20 SMA on daily chart.
• If all the above bearish signals appear with increase in trading volume, who say there is no “Sell in May and Go Away” this year?

If the $6.80 support is strong and F&N continues the uptrend, I will still NOT enter any long position.

Reason? My rule: NEVER BUY AT HIGH!

So, I am FULL BEAR on F&N stock and preparing to short!

SembCorp is not able to get past the $4.00 resistance (also the 61.8% Fibonacci Retracement Level) and looks like the completion of Elliott Wave 1, 2, 3, 4, 5 & A-B-C (marked in blue color).

Reversely, it looks like another Elliott Wave (downward wave – marked in red) in formation starting wave 1 at $5.50. If this is true, wave 4 may have been completed at $4.00 and wave 5 may start now and will reach $3.077 as minimum target. For this scenario to happen, wave 5 must break the recent low at about $3.20.

See previous analysis of SembCorp Industries capped at $4.00 here.

Jardine Cycle & Carriage is currently forming Wave A of Elliott. Jardine C&C rebound from the 200D MA support and looks like starting a Wave B. If this is true, the next resistance is at about $43 (20D MA) and $45 (50D MA). Looks like upside is limited and the downside risk is very high just imagine how the Wave C looks like.

SembCorp Industries is currently trading in Elliott Wave C. Base on currently chart pattern, SembCorp is likely to head towards $3.545 (50% Gann level) after the 61.8% Fibonacci Support level at about $4.00 (also the psychological level) is broken. This $4.00 is a tough resistance to break at the moment. So, I am expecting more downside to the next support in the coming days or weeks.

CSE Global has failed to break the 20D MA and 61.8% Fibonacci Resistance at about $0.98. This turning down also shows the start of corrective Elliott Wave C. Next immediate support is $0.84 (50% FR) followed by $0.70 (38.2% FR).

China Animal Health has formed a nice Elliott Wave pattern and currently the stock is trading at the corrective Wave C. Currently this stock is on the down trend after failing to break the 200D MA resistance and no sign of this bearish trend will stop.

Base on current chart pattern and PE ratio, it is not a good time to accumulate this stock for long term investing until the down trend is stop. Current price is over value compared to historical PE ratio.

• Current Price = $0.27
• Current PE = 18.38
• Rolling PE = 15.87
• FY09 PE = 12.23
• FY08 PE = 15.78
• Dividend Yield = 3.04%

First Resources has completed a Full Elliott Wave (1-2-3-4-5-A-B-C), is the stock going to start another new Elliott Wave? So far 200D MA has proved to be a very reliable support.

Base on the chart, First Resources has started an uptrend where the stock price is currently trading above 20D, 50D and 200D MA. Immediate support at $1.338 which is the 61.8% Fibonacci Retracement Support and also the 50D MA support.

If you are trading China Animal Health, I believe you will love the WAVES very much. You can see the wave patterns clearly and the predictability of the support and resistance. China Animal Health bounced back from the resistance of $0.43 (with the help of 123.6% FR level) as indicated in my previous post. Base on the latest chart pattern, ChinaAniH is currently testing 78.6% Fibonacci Support at about $0.348. The next support is the uptrend support (which is also a 200D MA support) at about $0.32 if this 78.6% FR support cannot be hold. 

Things to watch out:

• If you are planning a good entry for long term investment, you need to keep a very close watch on whether China Animal Health can bounce back from this uptrend support line (green line). Bouncing off this uptrend support indicates the uptrend is still intact. If this uptrend support is broken, this stock will start a down trend.
• If you are familiar with Elliott Wave, you can see that Wave A may be in formation. If the Elliott Wave is valid, watch out for a significant correction.

p/s: If you want to predict the stock price, I strongly suggest you to learn how to draw Fibonacci lines. Fibonacci will help to answer lots of your questions on where are the supports and resistances, where are the entry and exit points, etc.

Kepland seems like trading at the Wave 5 of an Elliott Wave.  It is still not clear that whether Wave 5 has completed before starting the Wave A.

Things to watch out for:

• If Kepland is able to stay above $4.50, the stock price will probably go up to $4.90 (138.3% Fibonacci Retracement Level) to continue Wave 5.
• If Kepland is unable to break this $4.50 resistance level, this probably indicates the end of Wave 5 and Wave A will be in formation. Price target of the corrective Wave A is $3.84 which is also a 200D MA.

Have observed several Elliott Wave Patterns in China HongXing. The attached China HongXing charts have shown two complete Elliott Wave patterns (Wave 1 – 5, Wave A, B, C) previously. Now China HongXing is showing the another potential Elliott Wave pattern showing the Wave 4 in formation. If you believe in Elliott Wave pattern and believe the history may repeat itself, you should be able to predict the next movement by studying how the Wave 5 performed on the previous two occasions.

Past two Wave 5 performance:

• From $0.13 to $0.21 in two weeks (61.5% increase)
• From $0.18 to $0.25 in two weeks (38.8% increase)
• Take note of the Fibonacci numbers (61.8%, 38.2%)…. A coincidence?

So, next performance? From $0.175 to ???? in ?? weeks?

Look at the China HongXing chart and make your prediction!

Welcome to post your prediction here!