Wilmar looks like forming a new up trend after showing a good support up trend line. A potential higher high may be formed when Wilmar faces the 200D MA resistance at about $6.40. A good entry point is between $5.90 to $6.00 when Wilmar retraces back to the uptrend support line.
Yangzijiang broke the $1.26 resistance and move back to it up trend. Chart has been redrawn to show the uptrend support line. As long as the uptrend support is not broken, the next resistance target is $1.56. Yangzijiang PE (at $1.46) is 10.5 which is not overvalue. A good entry point is when Yangzijiang retraces back to the uptrend support at about $1.35 to $1.40. Exit point is $1.56.
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.
