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Tuesday, May 23, 2017

Noble

On 18 May this blog warned that the big boys have rammed the stock up and distributed between 0.705 and 0.715. Today the stock plummeted to 0.42 and trading was halted. S&P downgrade on its credit rating and Sinochem was reported to be no longer pursuing investment in teh company. This bad news brought in many short seller but trading was abruptly halted in the late morning. Many of these naked shorts will be subjected to the 'Buying-In Market' sometime after the stock resume trading. If no had news comes out from the 'trading halt', short covering could give the stock a much needed boast.


IFast - Turned the corner

Turned the corner! Total asset under management grew faster than expected yoy to hit $6.46B. Next catalyst may come when their application for Trading and Clearing member to SGX is approval. technically the charts has broken out of its downtrend on exceptional volume. Next resistance is at 0.935 and 1.00. $1.17 could be the eventual target.


Friday, May 19, 2017

Alliance Minerals

On 8 May when Alliance shot up from 0.3 to 0.38 on the news of take-off deal. This blog predicted that it should retrace to 0.3 before moving higher. The price action has unfolded according to my script. Looking forward, Alliance is expected to release the outcome of feasibility in its development of the 120-160 ktpa spodumene concentrate operation at Bald hill and its maiden (interim) resource estimate in May 17 which could be very soon. It should trade between 0.285 to 0.32 until the report is released. Any surprise upside to the resource estimate could cause the price to test 0.415.

Thursday, May 18, 2017

Dow

On 12 May this blog said that Dow and Nasdaq chart has reached an inflexion point and a 20% correction could be expected. This blog believe yesterday's 372 points drop in Dow could be a start of this big correction which could take a month to pan out.


Noble

The big boys might have unloaded between 0.705 to 0.715. Could retrace to next support at 0.62 in the short term.


Tuesday, May 16, 2017

Jumbo

Chilli Crab is losing its flavour. 2Q17 earnings below expectation. Lower revenue in Singapore offset by Shanghai revenue. Gross margin was lower than expected. On the charts, it looks like heading for 0.555 in the short term, Longer term target is 0.485.


Monday, May 15, 2017

Geo Energy

Reported revenue increased by US 87M or 735% from US 12M in 1Q2016 to US 99.3M in 1Q2017. Inspite of the stirling results the stock price fell to 0.285. Traders largely priced in the good set of results and are looking to weaker quarter with coal prices falling 25% from its peak in Apr 2017. The share price should test its support at 0.27 and consolidate there for a short while before heading for 0.24.


Friday, May 12, 2017

Dow

Trump success in passing of Obamacare reform gives the market hope the tax reform will be passed more quickly and this hope has been holding up the US market. However more Fed rate hike and unwinding of central bank balance sheet posed a risk to the US market. Technically the DOW and nasdaq has hit critical chart point that historically are followed by 20% correction. The risk of holding US equities has heightened significantly in the last 2 weeks.



ThaiBev,

Posted a 23% YoY decline in 2017 core profit. Twin woe of mourning period and higher marketing cost cause a bump in the profit. This could be a temporary effect. This blog believe 0.83 will be a good entry level for a rebound with 0.77 as a good investment buy.


Tuesday, May 9, 2017

STI

More upside. Should be heading towards 3310 before a correction sets in.


China Communications Construction Corp

One of the main beneficiary of China One Belt One Road Project. China will be holding the high profile OBOR summit in Beijing from 14-15 May. This stock may be in play as the summit may highlight the potential of this stock over this weekend.