North Korea has been actively testing nuclear weapons as well as the patience of major powers of the world.
The US is seeking cooperation from China and Russia to pressure North Korea into submission, but somehow that tactic has never worked in the past and is unlikely to work in this time.
Keep a close eye on your trades, the market mood is still generally cautious.
In this post, we will take look at a couple of setups and decide if it’s something we want to be in.
Meanwhile, if you want a more systematic way of trading,
STI
It’s still stuck around this area.
So the 3250-3270 level is not providing much support.
Price could get stuck in the range it was previously in before the last run higher, the broader 3200-3270 range.
STI likely stuck in a range
Wing Tai
Not much going on, still in that range.
As mentioned in previous posts, the characteristic of this counter is rather overlapping again.
But since we’re already in a position, we need to be patient and follow system.
Wing Tai be patient and follow system
Wilmar
No signal to exit, so just be patient and follow system.
Wilmar be patient and follow system
Genting
Still no valid signal, likely we won’t be getting a signal from it so soon.
Price has dropped under the trailing support line.
For the moment it doesn’t interest us anymore, so we’ll stop tracking it here and put at the back of the watchlist for future setup.
Genting throw to the back of the watch list
Yanlord
Still no valid short signal, be patient.
Yanlord be patient
Sembcorp Ind
Price has made a consolidation with a double top and has broken the neckline.
We just got our first valid short signal.
There’s some space till around $2.77 and $2.65, the next support areas.
Be patient and wait for the trigger.
Sembcorp Ind be patient and wait for trigger
Mandarin Oriental
Did you know this illustrious hotel brand is listed in Singapore, Bermuda and London?
It just appeared as a long candidate from our scans, so let’s take a look at this counter,
Factors For:
There was a huge run up recently, now it’s consolidating near the highs in a range since mid June.
This consolidation could be the launchpad for another leg higher.
Factors against:
No TIF with this signal.
The volume for this counter is generally low.
The signal did not break any significant levels.
Conclusion:
We would not take this signal, but it’s worth keep an eye on for future setups.
Mandarin Oriental not a good signal to buy, but worth observing next signals
If you’d like to know how to evaluate setups systematically,
