Singapore Exchange (SGX) is currently trading within a down trend channel after breaking out from Head and Shoulder pattern. Current SGX has reached the breakout price target and also trading near the down trend support level & 38.2% Fibonacci Retracement Level. SGX may rebound from here after forming an inverted hammer candlestick pattern. Immediate resistance is at about $6.70 which is the down trend channel resistance and 20D SMA.
It can go either way for SGX. Anyway, just need to wait for the release of quarterly earning result before deciding how to trade SGX.
Bullish Sign from the Chart:
Bearish Signs from the Chart:
| Current P/E Ratio (ttm) | 24.9634 |
|---|---|
| Estimated P/E (06/2013 ) | 22.9630 |
| Earnings Per Share (SGD) (ttm) | 0.2732 |
| Est. EPS (SGD) (06/2013) | 0.2970 |
| Est. PEG Ratio | 3.6449 |
| Market Cap (M SGD) | 7,286.71 |
| Shares Outstanding (M) | 1,068.43 |
| Enterprise Value (M SGD) (ttm) | 6,589.03 |
| Enterprise Value/EBITDA (ttm) | 17.87 |
| Price/Book (mrq) | 8.7442 |
| Price/Sale (ttm) | 11.2624 |
| Dividend Indicated Gross Yield | 3.96% |
| Next Earnings Announcement | 10/18/2012 |
Global Logistic Prop (GLP) is showing a very sexy head and shoulders, or multiple Tops or whatever you want to make it. Bottom line is GLP is finding difficulty to break the $2.22 resistance to move higher. Why am I saying this chart pattern sexy and potentially make shorties drool? Basically GLP is showing very clean pattern and the support / resistance levels are very clear. GPL has clear cut head, nice shoulders, refined neckline and bounced up or down nicely from the Fibonacci Retracement Levels most of the time. GLP has broken the neckline and currently coming back to test the neckline and 20D SMA. If GLP fails to overcome the neckline and bearish signal appears (2/5 EMA cross down on weekly and daily chart), the minimum price target of this Head and Shoulders Breakout is $1.94. Will this chart pattern repeats itself? We will see.
Global Logistic Properties Limited will release its full year financial results for the year ended 31 March 2012, on Thursday, 24 May 2012, after the close of trading.
