Singapore Stocks (Noble Group & Olam) Ichimoku Analysis

This blog has been blogging on ichimku charting to forex. As part of the new year resolution, I have decided to blog on Singapore stocks using ichimoku charting, probably on a weekly basis.

Unlike the forex trading which I have been blogging, blog on Singapore Stocks is solely my interest to blog on ichimoku charting to Singapore Stocks.

As a start, 2 stocks are selected, Noble Group and Olam International.

1. Noble Group Charting below:

The price action activity has been volatile for the past few months. From a low of 1.02 to a high of 1.38 and to where it is now, 1.205.

Technical Analysis (Ichimoku)

Tenkan-sen has cut above the Kijun-sen, and Chikou span is about to cut above Kijun-sen. Price action has also penetrated the lo of the kumo cloud, and looking to pierce through the kumo cloud hi. The kumo cloud is thick ahead, providing good support if price action is above the kumo cloud. However, chikou span still have a distant to go before going above the kumo cloud.

Strategy (Ichimoku)

With the thick kumo cloud ahead and price action activity around the cloud hi, it provides opportunity to start establishing long position at the current level. Watch out the price activity ahead, with stop loss below 1.11. Depending how the price action ahead, level to watch is dependent when the chikou span cut above the kumo cloud.


2. Olam International Charting below:

This is a stock which has gained attention for the past few weeks due to Muddy Waters's Report. Do a search on google and you can find out why the sharp fall.

Technical Analysis (Ichimoku)

Tenkan-sen has cut over the Kijun-sen below the kumo cloud, and chikou span is above the cut above tenkan-sen. Price action itself is above Tenkan-sen and about to go above the cloud lo.

Strategy (Ichimoku)

It takes a very strong move to have a change in trend, as chikou span is at a distant away from the cloud hi. It can see the fight between the bears and bulls. Sellers may that take the view to add more positions at the current level, speculative buyers at the low may also choose to exit. Will probably need some forms of catalyst to have the trend change. Should the price trade up to 1.73-1.78 range in the new few days/weeks, this stock will probably worth to take a note.