SIA Engineering: Consolidate in a Triangle

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SIA Engineering is currently trading in a Triangle with no clear trend on daily chart.  Weekly chart shows SIA Engineering is moving sideway. However, need to take note that SIA Engineering has been rejected twice at 61.8% Fibonacci Retracement Level on the weekly chart. Double Tops pattern can be seen on both daily and weekly chart.

  • Current Price = $3.99
  • Current PE = 16.28
  • Rolling PE = 16.28
  • Beta (75 days) = 0.17
  • Dividend Yield = 5.23%
  • XD Date = July 23, 2012

Things to watch out:

  • Triangle support or Double Tops neckline is at about $3.90.
  • Resistance at about $4.00 followed by $4.10.
  • 2/5 EMA crossover and 20D SMA direction.

I am preparing for a bearish entry.

Continue ReadingSIA Engineering: Consolidate in a Triangle

ST Engineering: Resistance at $3.00

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ST Engineering daily and weekly charts look bearish after being rejected at 61.8% Fibonacci Retracement Level at about $3.00. 2/5 EMA and 20 SMA are trending down on daily chart. Next support is $2.95 (50% FR) followed by $2.92 (200D SMA). Down trend continues if these two supports are broken.

  • Stock Price = $2.98
  • Current PE = 17.34
  • Rolling PE = 16.61
  • Dividend Yield = 2.34%
  • Beta (75 days) = 0.78

Continue ReadingST Engineering: Resistance at $3.00

F&N: Up Trend Still Intact But Need to be Cautious!

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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!

Continue ReadingF&N: Up Trend Still Intact But Need to be Cautious!