Singapore Stocks - My Stocks Investing

Technics Oil and Gas: Reached the Price Target

Post author:Marubozu
Post published:July 17, 2010

If you have missed the boat of this stock breakout, it is too late to chase the stock now. Technics Oil and Gas has reached the minimum target price of $0.63 since the breakout from the falling wedge. See Previous Analysis.

The stock price was very bullish and continued the uptrend to reach 138.2% Fibonacci Retracement Level and started the reversal. The upside is very limited as for now as this stock probably will drop back to the Fibonacci Retracement Level at either $0.687 or $0.615 for consolidation before start the next move.

ST Engineering: Upside Limited

Post author:Marubozu
Post published:July 17, 2010

ST Engineering upside is limited base on current chart pattern. This stock has been moving sideway between $3.00 to $3.30 from Dec 2009 until now. $3.30 proved to be a tough resistance to break and the upside is also limited by the support turned resistance of the uptrend line. Unless there is a breakout with huge trading volume, the downside risk is much higher than the upside potential. $3.00 is the very strong support level. In addition, with current PE of 22.12(the highest of the past 4 years) and the dividend yield of 2.146%, ST Engineering is not a really attractive investment choice for me.

Singapore Airlines (SIA): Forming a Right Shoulder

Post author:Marubozu
Post published:July 17, 2010

SIA seems like forming a Right Shoulder. The neckline is at about $14.30 which is also 78.6% Fibonacci Retracement Support level. 20D, 50D and 200D MA are all congested at about $14.50 region. Breaking below the neckline will confirm a Head and Shoulder pattern and SIA may go down to $12.00.