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Food for thought: 7 stock charts from Singapore, Hong Kong and US

Chart #1 – Monthly chart of EEM, 2005 – present

This is a monthly chart of EEM, showing it complying nicely to the support and resistance zones I previously identified here. To emphasise once more time, I repeat:

  1. EEM breakout of previous 6-year high is still valid.
  2. 6-year high is still a support.
  3. EEM is very technical.

Emerging markets have not crashed yet.

EEM monthly chart, 2005 - present

EEM monthly chart, 2005 – present

 

Chart #2 – XLRE in another holding pattern

I brought up XLRE on a number of occasions. I made two observations which one turned out to be correct while the other one was not correct or maybe not yet.

  1. XLRE is bearish – correctly identified.
  2. XLRE could be an early indicator of market correction – hasn’t happened.

Appears XLRE likes to make a big more, then go into holding mode. Do people trade like this?

XLRE daily chart from Sep 2016 - present

XLRE daily chart from Sep 2016 – present

 

Chart #3 – I was bullish XLE and this chart proves me right

In this story ‘Is it time for some energy-driven inflation? 3 charts of WTI, XLE‘ I was bullish on WTI and XLE and this chart shows that I was correct. I continue to believe so. In addition WTI remains in a clear uptrend mode.

XLE monthly chart 2008 - present

XLE monthly chart 2008 – present

I am looking at WTI to hit 2014 high of 107.65 some time this year or next. Additionally these are some oil stocks I am looking at. By the way, this is a much better chart of XLE going back to 1999.

 

Chart #4 – XLU perched on trend line

XLU is a safe-haven, the go-to when market enters risk-off mode. It is also a go-to in my opinion when yields are very low. Now that interest rates are rising, I think that rightfully money should be flowing out. XLU is now perched on trend line. If interest do rise, XLE falls out of trend line. If rates top, then this is the best point to buy. Pick a choice.

XLU monthly chart 2008 - present

XLU monthly chart 2008 – present

 

Chart #5 – OCBC unprecedented

This is a 3M (quarterly) chart of OCBC (O30.si). It is now in the 7th quarter of price expansion (bullish candle). I cannot find any precedence for such a performance in this chart going back to 2006. Maybe there is precedence if we go back further but best performance in 12 years is good enough for me.

OCBC 3M chart from 2006 - present

OCBC 3M chart from 2006 – present

 

Chart #6 – SPH at Subprime low

Singapore Press Holdings SPH (T39.si) is now sitting near to its Subprime low since 3 quarters coming to the 4th one. If you believe that it is a blue chip deserving a turnaround and has the potential to reinvent itself, this might be a good time to buy and throw into the fridge for long term safekeeping. If not, well the trend is still down although there might be a bottom here.

SPH 3M chart 2005 - present

SPH 3M chart 2005 – present

 

Chart #7 – TVB at Subprime, 15-year low

TVB (511.hk) should be familiar to Asian investors who watch HK drama. Another venerable company not unlike SPH, big question is whether it can reinvent itself when consumer and advertiser behaviour are changing. From the chart, stock price is near 15-year low. So, predict that it will continue to sink lower or best time to pick up?

TVB 3M chart from 2003 - present

TVB 3M chart from 2003 – present

 

 

Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

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