Maxis-Downtrend stock, exception of bullish market in Malaysia

MAXIS one of the biggest telecom company in Malaysia suffered from a downturn in share price since May. Our ART Supertrend system suggests there is a change of trend from bullish to bearish at beginning of May, it was indicated in orange bar. Since the first orange bar, price has fallen as much as 12%.

Furthermore, Smart Money Index (Graph at the bottom) assists in identify flow of fund whether is from Banker (Blue bar at bottom) or Retail buyer (Green bar at top). Bankers are commonly known as market mover, they consistently support the price, the share price is not sustainable when Banker Fund withdrawn in April. The trend remain weak unless we see the candlestick close above RM$6.65

Revisit The time to Buy UOB

Previous post http://www.andy-yew.com/2015/03/when-you-should-buy-uob.html

Remember our previous post that we mention how our client will buy UOB stock, price was at 22.50, RSI at 30% , that was the best time to BUY UOB. Now it is $24.18 Some people still asking me if UOB is good to buy now. I guess now is not the best time, the best time is over, we got to wait for another better opportunity when it is at the oversold position

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Will Midas Rally In 2013?

 After a massive sell down from the high of $1.17 in April 2010, Midas Holdings has been trading in a range between $0.32 (support) to $0.44 (resistance) since late August 2011. On 2 Jan 2013, Midas once again attempted to break the $0.44 resistance level and it closed the day at $0.445 accompanied with above average volume, which was marginally higher than the previous high. For the mid to long term, the short term moving averages (MA) for 20 days and 40 days is above the 200-day MA, indicating that the long term trend is changing. With the price hitting the 52-week high, this stock has the chance to go further in coming months given its current strength.

As for the bigger picture, we take a closer look at the weekly candlestick chart. The chart shows that the price is forming an Inverse Head and Shoulder pattern, with the current price just at the neckline, waiting for a breakout to happen. According to Wikipedia, an inverse Head and Shoulder pattern often indicates a major bottom of a stock. We see that Midas is one stock that would be “able” to rally after hitting its bottom in 2009.

This post is also published on Shareinv website
http://www.sharesinv.com/articles/2013/01/03/will-midas-rally-in-2013/

Midas - Long term seems bottoming

Midas Holding - Founded in 2000, Midas Holdings Limited (SGX:5EN; HKEX:1021) is today the leading manufacturer of aluminium alloy extruded products for the passenger rail transportation sector in the PRC. Midas has an established track record of supplying aluminium alloy extruded products to train manufacturers in the rapidly growing passenger rail transportation sector in the PRC since 2003. The Group also exports aluminium alloy extruded products internationally and have been involved in a considerable number of train projects in Europe and Asia. Read more about the company http://www.midas.com.sg/ 

52week high is currently at $0.44, do watch this counter if it breaks 0.44. Looking the weekly chart above for long term trade, current price is relatively low and seems bottoming. With the hope of China recovery in 2013, this can be one of the stock we can look into.

Noble grp - follow up

Noble grp, up 7cents today 4.27%, if you have follow my previous post you should have not got into short position because the swing setup did not trigger (price did not go lower than previous day low). Today there is strong buying strength, so strong that it breaks the down trend resistance line and also if you are watching the time and sales on your platform you will see alot of 2000-3000 lots trade going on (big boys are trading). Lastly, on my CSI system, the "sum of ROC" (candlestick change color to blue) also signal a trend reversal. Can consider buy for Mid-long term.

Candlestick commentary on Metastock:

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.

Starhub - defensive and high dividend, follow up

Starhub today broke ascending triangle formation, may signal for further uptrend.

Ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern that indicate accumulation.

Candlestick: It also forming a Bullish engulfing pattern. Read more at investopedia http://www.investopedia.com/terms/b/bullishengulfingpattern.asp

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Stock Pick: GoldenAgri, AsiaFood, Broadway

Golden Agri had a bullish momentum today, surprisingly gapped up and end the day at the highest price of the day. Probably due to the rise in crude oil price there is a spike in the buying interest of the palmoil stock. If you are holding this stock, can consider to add position tomorrow if it goes above today's high.

Broadway, on the technical daily chart beside we can see that broadway is testing the low formed in the past one month. A break below this low($1.13) may trigger further bearish momentum. Time to get out.

Asia food, this stock has also steered into the unclear zone. It's time to get out.