Wilmar seems to be rejected at 200D SMA with a Bearish Engulfing candlestick pattern on daily chart. A Hanging Man is observed on weekly chart. Both candlestick pattern point to potential reversal in coming days. Opportunity to take profit for those who already have the position and buy on retracement for those who have missed the early boat.
On bullish side, Wilmar is forming a Bullish Pennant. So, also watch out a bullish breakout if retracement does not happen.
Yangzijiang breakout from a few key resistances:
This $1.00 is a very significant resistance for Yangzijiang. However the stock is rejected at $1.147 with long upper shadow indicates potential reversal. Anyway it is too late to chase the stock price, it is safer to wait for the retracement to test the $1.00 resistance turned support level.
By the way, it is not really a big surprise that big cap China stocks breakout and reverse to the uptrend. Those breakout are supported by the Fundamental of China Economy. Read my previous post of China Big Cap ETF (FXI) here.
| Current P/E Ratio (ttm) | 5.6940 |
|---|---|
| Estimated P/E(12/2012) | 6.1062 |
| Relative P/E vs. FSSTI | 0.4648 |
| Earnings Per Share (CNY) (ttm) | 0.9937 |
| Est. EPS (CNY) (12/2012) | 0.9270 |
| Est. PEG Ratio | – |
| Market Cap (M SGD) | 4,272.77 |
| Shares Outstanding (M) | 3,832.08 |
| 30 Day Average Volume | 14,463,500 |
| Price/Book (mrq) | 1.4746 |
| Price/Sale (ttm) | 1.3167 |
| Dividend Indicated Gross Yield | 4.93% |
| Cash Dividend (SGD) | 0.0550 |
| Last Dividend | 05/17/2012 |
| 5 Year Dividend Growth | – |
| Next Earnings Announcement | 02/26/2013 |
Rotary Engineering breakout from Inverted Head and Shoulders with a huge spike in volume. Target price for this breakout is about $0.58. It is better to wait for the retracement to test the 200D SMA and also the neckline before jumping in.
