China Animal Health: Wait for Pull Back Part 2

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If you are trading China Animal Health, I believe you will love the WAVES very much. You can see the wave patterns clearly and the predictability of the support and resistance. China Animal Health bounced back from the resistance of $0.43 (with the help of 123.6% FR level) as indicated in my previous post. Base on the latest chart pattern, ChinaAniH is currently testing 78.6% Fibonacci Support at about $0.348. The next support is the uptrend support (which is also a 200D MA support) at about $0.32 if this 78.6% FR support cannot be hold. 

Things to watch out:

  • If you are planning a good entry for long term investment, you need to keep a very close watch on whether China Animal Health can bounce back from this uptrend support line (green line). Bouncing off this uptrend support indicates the uptrend is still intact. If this uptrend support is broken, this stock will start a down trend.
  • If you are familiar with Elliott Wave, you can see that Wave A may be in formation. If the Elliott Wave is valid, watch out for a significant correction.

p/s: If you want to predict the stock price, I strongly suggest you to learn how to draw Fibonacci lines. Fibonacci will help to answer lots of your questions on where are the supports and resistances, where are the entry and exit points, etc.

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Comparison of Singapore Telco Companies Stocks

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PE ratio and Dividend Yield comparison for SingTel, StarHub and M1.

SingTel Chart

Head and Shoulders formation for SingTel stock chart, currently SingTel is testing the neckline at about $3.08 which is also a  78.6% Fibonacci Support Level. Breaking down this neckline with huge volume with confirm the pattern and may send SingTel to the price target of $2.83.

StarHub Chart

StarHub is currently testing the uptrend support at around $2.62 (also 50D MA support) to $2.65 (78.6% Fibonacci Support). Breaking these support levels indicate the end of up trend.

M1 Chart

M1 is trading at  5 years high. Although the chart still shows the uptrend but M1 is closing to the next 138.2% Fibonacci Resistance at about $2.413. Uptrend support is at about $2.274.

In summary

Upside potential (for capital gain) are limited  for SingTel, StarHub and M1 base on PE ratio comparison and chart patterns. Dividend yields are still attractive at current stock price.

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Singapore Airlines (SIA): It is time to get out!

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Singapore Airlines (SIA) has been on up trend for the past 18 months. The stock price cannot be going up forever. What goes up must come down, and vice versa. Current SIA’s has broken the reliable up trend support (green line). This support has been proved strong for the past 4 occasions to support the uptrend.  This up trend support seems to be turning into Resistance as SIA stock price is unable to get back above the up trend line. Also take note that 20D has crossed down the 50D MA. If we look clearly into the chart again, SIA is very close to the 3 years high of $16.34 resistance and a Head and Shoulders chart pattern may be in formation. Weighing the upside potential and downside risk, it is time to get out if you have already made handsome profit.

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