Happy new year to all. Santa sure made his round agree Christmas with the rally leading up to the new year. The daily PPMs 1 and 2 are squarely in trend mode up. This makes today's fizzle out seem more like a blip than actual stalling. Also, there is usually some rally in the markets in Jan so do take now of that as well. Weekly PPM 1 is still looking strong...
The price is still range trading towards the top of the band, but the PPMs are still signalling a return to the SMAs soon. Especially the 10 and 40 SMA. Hence we could see a return to 3.2 to test the 10 SMA, and if it doesn't hold, we could see a dip down into 3.18. However, it seems more likely that 3.2 will hold as the PPM algo does not look like it wants to...
Price action today seems to be going against the daily PPMs for now. The algo on PPMs 1 and 3 are showing more moderation instead of a downside bias. There are also new upside fib targets today. While it is still too soon to say if they will hit, they are within range of the upside fib targets on the weekly chart. So while I expect some more sell side bias today,...
With momentum still looking bleak, I'm wondering if today's push up from the lower open is a wealth transfer of sorts or to hunt the stops. Whatever it is, the PPMs still look bleak and the SMAs agree. There are also new downside fib targets that are on their second trading session. While I don't expect a big dip, it's hard to be bullish either.
Recently trading with unusually high volume; COE Prices are high up in the sky but this stock is still at its lows. Just Publishing for discussion.
From the looks of it, the PPMs have topped and are on the way down. Same goes for the SMAs. While the longer period SMAs are still relatively flat, the short term 10 SMA is losing steam and turning downward. This puts a damper on price establishes a short term ceiling. I would expect some drifting downwards over this week as the PPMs work their way into the...
Judging from the angle of attack on the SMAs, we can see that the momentum that was built up over the past week has been lost. The PPMs second that as well. We can see that the PPMs are all predicted to head down after today's session. Considering none of the PPMs are in trend mode yet, this means momentum has been lost even before it could start. I don't...
After the spike in the previous trading session once again going through the RXT sell signal, price is now back in market grid. PPMs 1 and 2 are pointing down for the day, which means that there may be some sell off. However considering there is no major dip incoming in the algos, price may stay within the bounds of the market grid or the previous session's...
Momentum seems to have waned over the last 2 days. The selloff following the initial spike had taken the wind out of the sails of this rally. Algos on the daily PPMs have gone flat. Hence I would expect more range trading over the next few sessions. However, once we move over to the weekly, we see that the algos on the SMAs are drawing a move for the 10 SMA up...
For now it seems like some of the strength of Friday's rally still remains even after yesterday's retracement. PPM 1 is on its way to trend mode. However PPMs 2 and 3 are still languishing around no-trend territory. Hence for now I'll still be cautiously bullish. The angle of attack on the 10 SMA is still strong, indicating that this moving average is still on its...
After the initial rally on Friday that pushed way past the RTX sell signal, we now have a pullback back into the market grid. However, the market grid has also turned up and price is now floating around the bottom of the range at S3. The PPMs are all trendless today too so I expect some pullback to stabilisation for this and maybe next session.
Potential target is as shown. Lets see how it plays out. Feel free to share your thoughts comments box. Note: This is not financial or investment advise. It will be good to always understand the risks involve in trading. Always trade with stop loss in place. Give a thumbs up if u like the analysis :)
Potential bullish pattern - OCBC Entry and Exit as shown in chart. Feel free to share your thoughts comments box. Note: This is not financial or investment advise. It will be good to always understand the risks involve in trading. Always trade with stop loss in place. Give a thumbs up if u like the analysis :)
From the looks of the PPMs, today looks to be an up day. PPM 1 has turned up with momentum continuing upwards over the next few sessions. PPM 2 has already jerked up quite a bit and PPM 3 is predicted to spike upwards in the next session. It seems there was a mini rally early in today's session which sent to price all the way to the RTX sell signal. Time will...
We had some indecision in the market yesterday, with a doji-like candle by the end of the trading session and both ends similarly long. It may seem like the selling has abated somewhat. However, note that the PPMs are all still negative even if they are not in trend. Yes, they are starting to gain momentum, but the SMAs will still need some time to reverse and...
Looking at the daily and the weekly, it seems like the sell-off is gradually starting to taper. The daily 10 SMA is looking to do a 180 turn and the PPMs support it. There may be another one more session of continued selling for the stop-hunters but by and large, I would think the downside could be limited. Of course, being still in no-trend territory, all the...
PPMs are still pointing towards a downward momentum for the next 2 or so trading sessions. However after that, it is pointing back up at a recovery. We are still looking at a short sell off incoming. For some reason, the low fib targets are still in play. But the market grid is already narrowing bit by bit. The trading range has already narrowed quite a bit and...
With the algos on both the PPMs and the SMAs pointing downwards, the momentum of the relief rally seems to be short lived. Especially looking at the projected sharp drop in PPM 2 going forward into the next 2 trading sessions, it looks like the 21 SMA is going to be a hard ceiling to crack. Add to that both the faster moving PPMs are currently under their 2nd...