UOB - Trading within a Range

• UOB is trading between the range 24.30 to 27.00. After touching 27.00 level in early November it has retraced to its 200-day MA support level.
  
• The current pullback could continue towards the next support at 25.4.
  
• A break below 25.40 could trigger a downward move toward 24.30 which will offer an opportunity to accumulate new long position in anticipation of a rebound.

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PetroChina – Downtrend Intact

• PetroChina is still a significant underperformer within the China A50 index stocks as price action maintains a series of lower highs that has formed since November 2018.
  
• Today it broke its 3.70 support and if it stays below this level, it could test the next support at 3.44 in the short term.
  
• It trades significantly below its 200-day MA and the longer price objective points to a target of 3.11.

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Hang Seng Index - Middle Of The Range But Expect A Corrective Pullback

• A corrective pullback is underway after bouncing off the November highs. Current resistance is capped at 7212.
• The short-term price action indicates a pullback to 26050 which coincides with the support on the long-term uptrend.
• A break below the 26000 to 26050 range would be bearish and would bring our attention to the next support at 25390.

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Straits Times Index – Losing Steam

• The FTSE STI is unable to hold above the 200-day moving average support and is showing sign of reversal to test the next support at 3142. A break below 3142 could trigger a test of the next support at 3090.
  
• The STI currently sits below the 200 days MA but is above its long-term trend line support. A break below the long-term trendline support could result in prolong weakness of the index.
  
• The resistance is capped at 3227.

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Cardinal Health - Sell Signal Triggered by RHO System

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Breadtalk - Sign of Life

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Yangzijiang - Bearish Price Action

On 5th November, it was ramped up on high volume, giving the impression that the stock has finally turned around after a period of consolidation. Today, the stock reversed to give up almost all its gains. Many traders were caught on 5th November and it will take many more days before the stock can turn up again. It could test the last support 0.95 in the short term. A break below 0.94 could see the stock price testing its low at 0.91 again.

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China Everbright - More Upside Ahead In The Short Term

China Everbright (CEWL.SI)

A unusual huge volume spike today could be an indication the stock had bottomed after a prolong downtrend . Next target is at 0.345 and 0.375.

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Hang Seng Index - Hesitating at the downtrend resistance line

Hang Seng Index  - Continues to hesitate below the resistance provided by the blue downtrend line. This price action is consistent in the last 6 months with the lower highs established . Its is testing the 100 days Moving Average (MA) and supported by the 50 days MA currently at 26315. The risk remains on the downside  until the index breaks convincely above the downtrend line.
However, if it breaks above 27150 it could close the gap to reach 17512 which is also near the 200 days MA

All posts and charts are for educational and illustration purposes only