Wednesday, October 21, 2020

Top Glove (SGX:BVA) Trade idea 21 October 2020


Top Glove (SGX:BVA) has form a potential double top and has since retraced today to hit the first support at 2.88 and has bounced off its 50-MA. If this level is unable to hold it is likely to continue to move down to its second support at 2.70. 

Beyond 2.70 the next key supports are: 2.59 and 2.42.

Stop loss: 3.20

Key Resistance level: 3.163

All posts and charts are for educational and illustration purposes only
Friday, October 16, 2020

SATS (SGX: S58) Tailwinds emerging

An announcement was made today that Singapore and Hong Kong will create a travel bubble that exempts people from both cities from quarantine, an agreement that will re-open links between Asia’s two premier financial hubs. Since June 9 travel agreements have been signed to established Green Lanes with China South Korea., Japan , Indonesia and Brunei. 

I expect more approval to come. SIA recently introduced cruise to nowhere in flight dining saw huge demands and all these packages will benefit SATS  Arrivals at airports rose from 750 in April to 8912, no much to shout about compared to pre-covid numbers but certainly a positive development.

Opening-up is particularly important for Singapore to help reboot its economy and the aviation industries as Singapore relies heavily on international connectivity.

On the chart SATS currently trades above their 50-MA level. Immediate support at 2.95 and 2.85  with overhead resistance at 3.15 and 3.28




All posts and charts are for educational and illustration purposes only
Wednesday, October 14, 2020

Apple (NASDAQ: AAPL) - Hotly anticipated iPhone 12 launch fail to live up to its hype.

There was no fanfare at much anticipated iPhone 12 launch yesterday. In fact, Apple (NASDAQ: AAPL) fell by 2.65% on the news closing at $121.10 after trading to a high of S$125.39 yesterday. Pricing US$699 price is reasonable, but many analysts had more aggressive expectations. Pricing strategy has been critical to each iPhone’s success. This time I think the success of iPhone 11 is less likely to be repeated. With such high expectation and huge built up in component inventory, the high share price performance of Apple and its supply chain names may not be repeated in the next 6 months.
All posts and charts are for educational and illustration purposes only