Singapore Stocks - Ichimoku Analysis Week 4

We are revisiting 2 of the Singapore stocks, Noble Group and Hyflux which we have covered previously.

1. Noble Group

It was previously mentioned the previous level 1.24 provided good opportunity to long, with stop loss below 1.11. And to look for activities if price traded above 1.27.

Technical Analysis (Ichimoku KinKo Hyo)

Price action remains above the kumo cloud channeling between 1.21 to 1.25 but below the tenken sen now. Chikou span is about to break above the cloud hi, providing bullishness to the overall price activities. The ichimoku cloud ahead is providing support to the price action for it to stay above the kumo cloud.

Trading Strategy (Ichimoku Trading)

Continue to maintain long. If price action goes to 1.24 and gains momentum, it is not difficult to see it break 1.27. Stop loss level can be raised to 1.14.

2. Hyflux 



























It was a roller coaster ride for Hyflux. Price action went down to 1.29 from 1.35 after our post on Hyflux. However, it never went below 1.27 (Just yet)

Technical Analysis (Ichimoku KinKo Hyo)

Price action went up to 1.38 after establishing low at 1.29, it is now 1.375, the level mentioned in the previous post to look out for.

Tenkan-sen remains above kijun-sen and emerges out from the ichimoku cloud. More significant, chikou span has also cut above the ichimoku cloud. The forward cloud has changed from bearish to bullish, but support remains thin.

Trading Strategy (Ichimoku Trading)

Continue to maintain long and stop loss remain at 1.27, with adjust to 1.29 later.

Singapore Stocks-Ichimoku Analysis

1. Noble Group

Update from post last week for Noble Group, price action is now between 1.23-1.25 and cloud hi at 1.21.

Technical Analysis (Ichimoku Charting)

While tenkan-sen is above kijun-sen, both are in the kumo range. Chikou span remains below the cloud lo, and forward cloud remains thick until further forward (After 11 Feb)

Trading Strategy (Ichimoku Strategy)

Current level remains good opportunities to establish long, with stop loss below 1.11. Look out for activities if price trades above 1.27.

2. Olam International

Unfortunately, price action never trades above 1.73, not to mention 1.78 as per last week post.

Technical Analysis (Ichimoku Charting)

While Tenkan-sen is above Kijun-sen, both are below the kumo cloud. Chikou span has just cut above the Kijun-sen, forward cloud remains thick, which means strong resistance to the price action looking to break 1.73.

Trading Strategy (Ichimoku Strategy)

If on CFD, may look to short with stop loss above 1.73. 

3. Hyflux

Just another Singapore Stock, Hyflux.

Technical Analysis (Ichimoku Charting)

Tenkan sen above the kijun sen, both in the kumo cloud. Chikou span already cut above the tenkan-sen and kijun-sen. Forward cloud is thick providing some support to the price action. Price action about the break cloud hi.

Trading Strategy (Ichimoku Strategy)

Can consider to start establish long at current level, with stop loss at 1.27. Price level to look at is 1.375 and above.

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.