Thursday, October 8, 2009

20091008 1657 Lots of stock will show buy signal today !

With such a bullish sentiment on the FBM KLCI cash market, a lots of stock will appear on the screening radar under the charting software. Have to be careful when picking one because we are using the buy high sell higher approach. Risk will be high, calculate your risk! 

20091008 1850 Soy Oil Futures Still Hovering around 34.00 level.

At last done, soy oil still trading around the 34.04 with any clear direction. Still sideway market ! But should there be any break up or down from the range's high or low level lead us to a phase of the soy oil market development. Wait a see.

20091008 1845 FCPO EOD Daily Chart Study. Sell down day.

A boring and exciting day for the FCPO that opened today with a bored small range body with low traded volume followed by a excited last half an hour sell down high volume action. At last, market closed @ 2030, 47 points lower with a 64 points range to from a black range bar candle. At closed, price still traded below mid Bollinger Band = Bearish + market is ready to dive deeper with the end of the technical rebound. Bollinger Band width widen today suggest that market can go down further. MACD histrogram started to fall again today after a few day rise due to the rebound = Seller took charge the market again. One thing to take notice will be the China's Dalian Palm Oil Futures market movement that start trading tomorrow after a long holiday break.

When to Buy : Cannot initiate long position, only cut loss order.
When to Sell : Higher to sell or sell on break down with larger profit target and cut loss point.

20091008 1827 FKLI EOD Daily Chart Study. Target reached !

FKLI closed 10.5 points higher @ 1234 with a white range bar candle. Last minute profit taking resulted the price to closed 2.5 point off the high. Chart wise, today's candle close above upper Bollinger Band = Bullish with high possible that profit taking will take place anytime soon. Bollinger Band width widen but still unable to catch the pace of the market movement suggest that buying activities are way too aggresive. MACD histrogram continue to edged higher to near cross positive territory = Buyer still in control. Overall market might still move higher but a pullback for partial profit taking and a rest would be healthy in order for the market to gain more strength.

When to Buy : Buy on pull back or break up(becareful) with quick stop loss.
When to Sell : Cannot initiate short position only lock in profit.

20091008 1657 Time to lock in partial profit !

Perhaps it is now time to lock in some/partial profit for FKLI long position or trail stop loss to higher level !

20091008 1644 Hang Seng EOD Daily Chart. Still Room To Go Up.

Hang Seng exchange closed higher and above mid Bollinger Band = Bullish.
Bollinger Band width expanding = Bullish still room for upside untill upper Bollinger Band. 
MACD histrogram continue to rise = Buyer in control of the market. A golden cross would be ideal to the up run to sustain further. At close Hang Seng Futures is also doing premium of 61 point compare to its cash market. Now DJIA futures also up by 84 points. Good news for FKLI long position.

20091008 1625 CIMB managed to break its 2 years high.

CIMB managed to break it 2 years higher level @ RM12.20 to reach RM12.30 before retracing back now @ RM12.12. A very bullish break out. This is good for FBM KLCI and FKLI long position holder !

20091008 1500 Soy Oil Futures Stay Firmer Now @ 34.25

Soy oil futures traded firmer. Hope the sames goes to FCPO !

20091008 1330 AXIATA Daily Chart Study. Be Alert !

Daily Chart wise, price traded below Mid Bollinger Band and Bollinger Band expanding signalled that Axiata is trading biased to the downside. MACD histrogram also confirmed the the downward movment by continue to falling. the RM3.00 support level will be crucial to watch for.

20091008 1308 FKLI Hourly Chart Study. Possible profit taking.

FKLI gap up opened 1.5 points higher and stay unchange to closed at 1225 for the morning session. Price still traded above Mid Bollinger Band = Bullish. Bollinger Band width expanded marginally suggest that market will be trading upward biased. However, MACD histrogram getting lower into the negative territory = market may be in profit taking stage. With 2 dojis candle at the top, market could trade lower if profit taking activity continue in the market but immediate support seen in the mid Bollinger Band.

20091008 1245 FCPO Hourly Chart Study. Low volume traded.

FCPO opened 2 points higher but slide down lower ended 14 points lower with a hammer candle to closed at 2063 for the morning session. Price seems supported and stay above Mid Bollinger Band = Still biased to the upside. Bollinger Band width stay flat suggest market will be trading sideway range bound. On the opposite side MACD histrogram continue to fall lower = there are just very few buyer in the market. This is also comfirm by the low volume transaction. A break down below the mid Bollinger Band with increase volume would be ideal for the price to go further down and support level still seen at the 2000 level. Should price failed to trade lower, a rebound could happen from the mid Bollinger Band support. The hammer also serve as an early sign of possible rebound.

20091008 1027 Soy Oil Futures Still Trading Sideway

Soy oil futures still trading sideway for few days now. At last done 34.12, still lower compare to yesterday 6.00pm closed @ 34.30. FCPO will likely to gap down today.

20091008 1010 New Britain Palm Oil has signed a $100m deal to supply Ferrero

$100m deal signed between New Britain Palm and Ferrero for the supply of palm oil. Ferrero the Italian confectionery maker come under pressure to source commodities ethically and to stop using hydrogenated fats and substitute it with sustainable palm oil.

Brands under Ferrero group includes Ferrero Rocher, Nutella and Tic-Tac has stopped using hydrogenated fats to assuage consumers’ health concerns two years ago and now uses palm oil instead. Palm Oil Go Go Go !

20091008 0940 Dow Jones Daily Chart Study. A Doji Day !

Dow Jones ended marginally lower to close at 9725.58 forming a doji candle last night. A doji means market are uncertain about which direction to go. Chart wise, price still close above mid Bollinger Band = upside biased.  Bollinger Band width narrowed after price failed to close higher suggesting a sideway range bound market. MACD histrogram continue to rise = buyer still rule in a smaller majority. It is better to stay sideline to wait for new direction before going into the market.