Technical Analysis – 9th June 2009

There are a couple charts which I can point out for some updates now with a couple counters to look at.

The STI retraced a little yesterday but not quite to the target yet. This implies it might still be possible to head down unless buy signals are triggered. U will see the same 2400 level, and the targets for downside. I will be hoping to buy some STI calls to go long on the STI if it hits that level and buy signals are triggered… but let’s see what happens. It is a lil ‘unsafe’ to chase a breakout should STI break 2400. I am still expecting this level to break sooner or later. Sooner than later perhaps. Provided supports do not begin to crack which can trigger short signals.

Midas triggered buy signals today. I went in during matching. Cut loss is around 63c and should it be able to breakout, I will look at around 81c. I was born between buy signals and resistance at 0.715. If the momentum is bullish and the buy signal is confirm then this should crack. I trust this buy signal so let’s see what happens.

Kepcorp is worth to take a look. No buy signals yet, and it seems resisted at around 20MA.  For buy signals to be triggered the price needs to close above 7.17. If it does in the next 1 or 2 sessions we should see buy signals.

I like kepland too. Notice the retracement has been on lower volume. I like the idea of it holding its support and the cut loss point is near, at 20MA. There is no buy signal yet unfortunately. It might take 1 or 2 sessions more to go should the trend continue. U may wanna add this onto your watch list.

I will try and post counters wif buy signals here from now on. I havent been using my scanning software for a while.. and it is still working wooo hooo!! So I will try and post buy calls. Obviously shorting calls will be rare due to current trend.

So keep looking! By the way, if you appreciate my posts, do click on the ads! *wink*

Lucy hope you found the above useful. If u got any charts u want me to take look, do sound off. There isn’t much on the STI to comment as we are in the middle of nowhere literally. We could be consolidating for the next move. As I said above I would prefer to see more retracement before a bounce off but there’s no stopping it if it wants to rally and break its current resistance. It mirrors the HSI very closely.. More closely than ever. Minute by the minute even. Geez. I don’t even wanna take a trade on the HSI already cause if I am wrong I will lose on both sides.