UOB Bank: Can it Go Lower?
UOB has a doji yesterday to stop the down trend for a while.
Updated chart to show the supports and resistances. Supports look for 123.6% FR, 138.2% FR. Resistance at $15.88.
Noble Group: Rebounding Soon?
Noble group formed a Bullish Engulfing yesterday but unfortunately did not move up today. Bullish Engulfing at the support level is a trend reversal pattern. Noble Group is currently just sitting above the down trend channel support. RSI is at oversold region.
Things to watch out:
- If Noble rebounds from this support in the next few days, the stock may move up to close the gap and get near to the resistance level at about $1.30 (downtrend channel resistance and 20D MA)
- If Noble breaks this support, Noble may be heading towards $0.924 (123.6% FR) and $0.753 (138.2% FR).
STI Week Ahead: Watch Out for Continous Sell Down!
STI has broken the 50D MA support today on the daily candle and also broke the 5W EMA support on weekly candle. The index is just sitting on top of 2,720 support. Breaking this support will send STI to 2,600 level. However, STI may start rebounding from this level depends on how US market close on the Friday. If Friday closes with bearish candle, next week will probably have more sell off.
