STI testing 2950 zone once again.

Before we take a look at the charts, do note that there is an update for Chartnexus this week.

So if you have been experiencing strange issues with Chartnexus, do get Chartnexus updated.

Notice the TIF indicator for TGPS is now two shades of green instead of red and blue?

Good, that means you’ve updated successfully.

First trading week of 2017 and we’re seeing STI testing 2950 again in a short span of time.

STI

The momentum is still bullish for the markets, thus, STI testing 2950 resistance area again.

Unlikely to break through so easily, so do take some profit off the table, but hold something in case we do break higher.

STI testing 2950

STI testing 2950

 

GLP

FINALLY. GLP breaks higher on news that they are looking for someone to take over the company, valuations put the sale price around $2.60 – $3.00

Technically it’s safe to take some profit in this 2.40-50 area.

Follow system and see where this ride takes us.

GLP finally moves!

GLP finally moves!

 

OCBC

We got that buy arrow we were waiting for, but wait for the trigger if you’re looking to play this one.

bear in mind 9.45 9.6 are levels of resistance, likely will get cleared if STI tests 2950 and breaks through.

In which case, we could see $10 next.

OCBC launching, wait for trigger.

OCBC launching, wait for trigger.

 

Sembcorp Ind

Also another one which has finally decided to start moving again.

we have broken the previous swing high but not closed above it.

Follow system.

Sembcorp Ind rewards our patience.

Sembcorp Ind rewards our patience.

 

ThaiBev

ThaiBev is hold down quite well despite STI’s strength.

If you think the STI will break higher from here, just trim a bit of your position a little, otherwise just follow the system.

ThaiBev still looks heavy.

ThaiBev still looks heavy.

 

Venture

This was a bit of a disappointment, we made a run for the 10.20 level and got turned back down.

I don’t like how it’s playing out, but I believe the potential reward is huge.

Stick to your trading plan and follow system.

Venture seems not ready to break $10.20 right now.

Venture seems not ready to break $10.20 right now.

 

Genting

Bouncing off the $0.88 level, no signal to buy yet.

Can $0.88 launch Genting back above $1.00?

Can $0.88 launch Genting back above $1.00?

 

Overall a good start to 2017!

Good trading folks!