APF Trading Technical Analysis Market commentary 27 feb 2011
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Transcript of APF Trading Technical Analysis Market commentary 27 feb 2011
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TECHNICAL ANALYSIS27 FEB 2011
APF Trading
MARKET COMMENTARY
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APF Trading
9 Battery Road12F Straits Trading Building
Singapore 049910
Glenn Ho
Website:www.apftrading.com
www.asiapacfinance.com
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Singapore Exchange
Weak support region gue to thin Kumo
Kumo twist
Chikou Span breaching Senkou Span A
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Singapore Exchange
A word of caution for SGX longs 2 months since Tenkan Sen crossed below Kijun Sen Current price below both Kijun and Tenkan Sen, a bearish
sign Concurrently, the Chikou Span breach the Senkou Span
A, price test the support Kumo Region and the future Kumo twists
What draws our attention is the weak support determined by the thin Kumo (circled)
It would be very easy for prices to break downside of the Kumo
If price breaks below the Kumo and Chikou is below prices, a strong bear trend would be in play.
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CIMB Group
Strong Kumo support
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CIMB Group
Rally of more than 200% gains after the last bullish buy triggers
For the first time since Apr 2009. Price closes for the week below Kijun Sen for 3 straight weeks now
While all the other Ichimoku elements still show that it is in a bull trend, it is advisable to watch near term price action for a hint of a trend reversal
The thick Kumo acts as strong support and the bull trend is still in play
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Newcrest Mining
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Newcrest Mining
Recent weak bearish Tenkan Sen Kijun Sen crossover Chikou Span ended very near the close, meaning the
close last week is near the close 26 weeks ago. A neutral sign
The Kumo is thick, providing strong support. Notice the flat Senkou Span B, suggesting prices had
not broken out of both the high and low for the past 52 weeks for a while now, suggesting sideway trading.
A subsequent bullish Tenkan Sen/Kijun Sen would be a strong bull crossover.
Meanwhile we expect prices to go sideways with support at Kumo
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Larsen & Toubro
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Larsen & Toubro
After the last perfected TD Sell Setup, prices dropped 31.64%
Currently Chikou Span is below price and below the Senkou Span A, a bearish sign
Kijun Sen is below Tenkan Sen and prices below Kumo, a bearish sign
We expect prices to continue its descend, with a break below the Kumo Shadow at 1177 a chance to add to position
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Honda Motor
Price broken up of TDST line, expect current TD sell countdown to reach completion, aligned with bull rally indicated by Ichimoku lines
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Honda Motor
After the medium strength Tenkan Sen/Kijun Sen crossover, Honda’s price rallied about 17%
Prices also broken up of previous TDST line on a qualified basis (represented by solid green line)
We expected prices to continue its rally and TD Sell Countdown to reach completion
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Kia Motor
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Kia Motor
Solid run up following the Tenkan Sen/Kijun Sen crossover as prices broke out of weak resistance in early May 2009
Notice how prices did not close for the week below the Kijun Sen since then
Bull trend intact. Longs can consider a stop loss slightly
below the Kijun Sen.
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APF Trading is a trading advisory firm offering clients Managed Forex Accounts and advice on multi-asset trading strategies, signals, trading systems, execution services and trading platforms. The firm also conducts research and technical analysis with a focus on Ichimoku Kinko Hyo and DeMark Indicators.