Raffles Education Corp (Raffles Edu) (Update - Stop loss)

9-Feb-12:
Raffles Edu has been on a long term downtrend since Feb-09.

Currently still trending within the long term downtrend but formed a symmetrical triangle with resistance at 0.49 from Sep-11 to Feb-12. Broke out convincingly of 0.49 resistance on 8-Feb-12 with high volume.

On 9-Feb-12, opened lower at 0.505 and back-tested 0.49 resistance turned support. However, rose from 0.49 level (establishing it as a support level) to close back at opening price of 0.505, forming a doji.

The price pattern on 9-Feb-12 which stayed above the upper half of the white candle on 8-Feb-12 suggest that the uptrend is likely to continue.

Trading Plan
Long at 0.50
Target price: 0.62
Stop-loss:0.475


24-Feb-12:
Raffles Edu hit a high of 0.53 before falling back to erase most of the gains formed by the long white candle on 8-Feb-12. On 24-Feb-12, price opened at 0.475, breaking the short term uptrend line formed since the break-out. Stop-loss triggered at 0.475.

Cosco Corporation (Update - Closed trade)

5-Feb-12:

Cosco broke down from its uptrend in Feb-11 and subsequently fell from a high of 2.39 to a low of 0.85 in Nov-11, within a short span of less than a year.

The downtrend stalled and price began trading in a range from around 0.85 to 1.10 from Aug-11 to Jan-12. On 25-Jan-12, price broke out of the 1.10 resistance and gaped up at opening. Since then, it has been consolidating and managing to stay above the gap up opening price of 1.11. With the short term uptrend since Jan-12 intact, expect prices to continue its uptrend after one week of consolidation.

Trading plan
Long at 1.18
Target price: 1.38
Stop-loss: 1.12

24-Feb-12:

As per previous expectation, Cosco established a narrow uptrend (lasting about a month) after breaking out of 1.10 resistance. After opening at a high of 1.315 on 22-Feb-12, it fell and closed at a low of 1.28, completely erasing the gains of the day before. On 23-Feb-12, it gaped down at opening breaking the narrow uptrend line.

Closed the trade at 1.22 (slight profit) given that the short-term uptrend has been broken. Downside risk will be for price to fall back to 1.10 break-out line.

On 23-Feb-12, price gaped down again at opening, went much lower but subsequently went positive at closing, indicating strength at 1.19 support line. To monitor for possible long entry as long a price stays above 1.10.

CapitaMalls Asia (CapmallsAsia)

21-Feb-12:

As discussed in previous post, http://trendspoting.blogspot.com/2012/02/capitamalls-asia-capmallsasia.html, not only has 1.50 level held up, prices have remained above 1.56 support level for past 4 trading days.

Upside potential likely to continue but immediate resistance at 1.72. 

Trading Plan
Long at 1.605

Target price: 1.84

Stop-loss: 1.53

Sakari Resources

16-Feb-12:

Second round to long Sakari. Refer to previous post http://trendspoting.blogspot.com/2012/02/sakari-resources.html.

Sakari broke out of 2.45 resistance on 16-Feb-12 to close at 2.51 with strong volume. On 17-Feb-12, opened lower at 2.48 but subsequently climbed to close at a higher close of 2.53 from the previous day, showing strength on the upside, especially on a day when most stocks were down.

As mentioned in the previous post, the wave pattern suggests that the previous high of 3.00 will be challenged. Immediate resistance at 2.65.

Trading plan
Long at 2.54
Target price: 3.00
Stop-loss: 2.43

CapitaMalls Asia (CapmallsAsia) (Update - Profit taken)

9-Feb-12:

CapmallsAsia has been trading in a downtrend since its IPO in Dec-09. Began trading in a range of 1.14 to 1.38 from Aug-11 to Feb-12.

Broke out of the trading range as well as the long term downtrend on 8-Feb-12 with a convincing 9% rise.

Trading Plan
Long at 1.42

Target price: 1.60

Stop-loss: 1.38

16-Feb-12:

Profit taken at target price of 1.60.
Price reached 1.63 on high volume on 15-Feb-12 but subsequently opened lower and closed lower on 16-Feb-12. Possible consolidation to happen in the next few trading days.
If 1.50 level can hold, to consider long positions with next resistance levels at 1.70 and 1.85.
 

Yangzijiang

14-Feb-12:
Yangzijiang has been in correction ever since hitting a peak of 2.05 in Jan-11. Fell to a low of 0.77 in Oct-11 and subsequently rebounded from there.

Traded in a mini uptrend from Oct-11 to Feb-12 and broke out of 1.17 resistance on 6-Feb-12. Within three days price broke next level of resistance 1.25.

For the next four days, prices remain above 1.25 and back-tested support level on past two days only to close higher, indicating strength at the support level.

Trading Plan
Long at 1.265
Target price: 1.47
Stop-loss: 1.20

Singapore Airlines (SIA)

9-Feb-12:

SIA has formed a descending triangle from Aug-11 to Feb-12, a potentially bullish formation.

Gaped up on 26-Jan-12 but subsequently gaped down again on 3-Feb-12 forming a bearish island reversal formation. Back-tested the gap in the last 3 trading days and on 8-Feb-12, gaped up but subsequently, closed lower than the day before, indicating strength in the gap resistance.

Trading Plan
Short at 10.80
Target price: 9.60
Stop-loss: 11.10