Technical Pulse The Phillip 20 Portfolio 4 May 2017

Transcription

1 TECHNIAL ANALYSIS Technical Pulse The Phillip 20 Portfolio 4 May 2017 SINGAPORE TECHNICAL ANALYSIS UPDATE Starting from May 2017, there will be changes to the technical pulse report to better serve our readers and clients. 1. We have constructed a Technical Portfolio consisting of our Top 20 technical stocks (called The Phillip 20 Portfolio ). 2. The portfolio will include more precise recommendations such as entry price, stop loss and take profit. We will also measure the performance of this portfolio on a monthly basis starting from May As can be seen in the following table, we will regularly update and reshuffle the portfolio of 20 stocks based on our technical view of the current momentum and sentiment: The Phillip 20 Portfolio Company Name Ticker L Entry Date Entry price Stop Loss Take profit Targeted return (%) Last price Current gain/loss (%) CHINA AVIATION G92 Long 29-Mar % % COGENT KJ9 Long 22-Mar % % CWG INTL ACW Long 31-Mar % % F & N F99 Long 24-Mar % % FOOD EMPIRE F03 Long 12-Apr % % GENTING SING G13 Long 16-Feb % % GEO ENERGY RES RE4 Long 13-Mar % % JUMBO 42R Long 6-Apr % % METRO M01 Long 9-Mar % % MOYA ASIA 5WE Long 17-Mar % % SHENG SIONG OV8 Long 5-Apr % % SINGAPORE O&G 41X Long 7-Apr % % SINGMEDICAL 5OT Long 6-Dec % % SUNPOWER 5GD Long 30-Mar % % SUNRIGHT S71 Long 22-Mar % % SUTL ENTERPRISE BHU Long 10-Apr % % THAIBEV Y92 Long 14-Mar % % UMS 558 Long 2-Mar % % UNITED ENGINEERS U04 Long 31-Mar % % UPP HOLDINGS LTD UO9 Long 24-Mar % % *Average gain is calculated based on equal weight placed on each trade Average Gain: 4.36% *The entry price in the table is referenced from the most recent update on the respective counters with updated stop loss and take profit levels. Refer to the following pages for the updated views of the 20 stocks within the Phillip 20 Portfolio. Cumulative Gain: 87.21%

2 Technical Pulse 4 May 2017 SINGAPORE TECHNICAL ANALYSIS UPDATE China Aviation Ltd Daily timeframe (Update from 29 March 17) Support 1: Resistance 1: Support 2: Resistance 2: Price is still moving perfectly in an uptrend with the 20 and 60 day moving average holding price up. Currently in a correction phase as price tests the 20 and 60 day moving average. As long as price stays above the 20 and 60 day moving average, we should continue to see further upside. Strong support at around Note: Our current fundamental view on China Aviation is a Buy rating with a fair value of $ Geo Energy Ltd Daily timeframe (Update from 13 April 17) UPP Ltd Daily timeframe (Update from 24 April 17) Support 1: Resistance 1: Support 2: Resistance 2: Price trending up firmly as it continued to form a series of higher highs and higher lows with the assistance of the 20/60 day moving average. The recent correction off the psychological resistance area since 29/03/17 was halted off the 60 day moving average suggests the uptrend is still intact. Watch for a daily bullish close above the 20 day moving average and pullback line for the uptrend to return. Note: Our current fundamental view on Geo Energy is a Buy rating with a fair value of $ Support 1: Resistance 1: Support 2: Resistance 2: Price is still moving in a long term uptrend with the immediate trend being stuck in a range. Price continued to be well supported by the 20 and 60 day moving average even during the current period of consolidation. Watch out for the daily bullish close above the range high for price to begin the next leg up to retest the resistance area. Page 2 PHILLIP SECURITIES RESEARCH (SINGAPORE) MCI (P) 76/10/2016 Ref. No.: SG2017_0094

3 SingMedical Ltd Daily timeframe (Update from 6 December 16) Support 1: Resistance 1: Support 2: Resistance 2: Price is still moving resiliently in an uptrend since August 2016 with the 20 and 60 day moving average pushing price higher on every correction. Currently, price is transiting into another correction after hitting a new high of Watch out for bullish price action around the 20 and 60 day moving average for the uptrend to resume. Singapore O&G Ltd Daily timeframe (Update from 7 April 17) Support 1: Resistance 1: Support 2: Resistance 2: Strong uptrend here with the 20 and 60 day moving average repeatedly propelling price higher. Lately, price continued to break new record high showing relentless strength. Continue to buy the dips in conjunction with bullish price action off the 20 and 60 day moving average if the correction appears. Note: Our current fundamental view on Singapore O&G is a Buy rating with a fair value of $ SUTL Enterprise Ltd Daily timeframe (Update from 10 April 17) Support 1: Resistance 1: Support 2: Resistance 2: Price has been moving in an uptrend since February 2017 with volume picking up steadily in the background. The uptrend remains intact even as price enters into a correction after testing the psychological resistance area on 31/03/17. The strong support off the 20 day moving average managed to hold price up and the 05/04/17 bullish rejection might mark the next higher low point within this uptrend. Price should continue to move within the uptrend to retest the resistance area next. Page 3 PHILLIP SECURITIES RESEARCH (SINGAPORE)

4 Genting Sing Ltd Daily timeframe (Update from 29 March 17) Support 1: Resistance 1: Support 2: Resistance 2: Price still moving resiliently along the uptrend here as the 20 and 60 day moving average repeatedly held price up. The most recent bullish break above the psychological resistance area proved the bullish momentum is accelerating. Price should continue to climb higher from here to target the resistance area next followed by Sheng Siong Ltd Weekly timeframe (Update from 5 April 17) Metro Ltd Daily timeframe (Update from 3 April 17) Support 1: Resistance 1: Support 2: Resistance 2: Price has been trending up since June 2012 as the 20 and 60 week moving average persistently supported price up. The long term uptrend since 2012 remains firmly intact here as the 60 week moving average once again kept a floor on price. Moreover, the bullish break and close above the 20 week moving average on the week ended 07/04/17 signalled another confirmation that the higher low point is established on the week ended 30/12/16. Expect price to resume moving in the bullish manner to retest the resistance area followed by Note: Our current fundamental view on Sheng Siong is an Accumulate rating with a fair value of $ Support 1: Resistance 1: Support 2: Resistance 2: Price has been moving in an uptrend since October 2016 as the 20 and 60 day moving average constantly acted as a springboard. Currently, price is moving in a corrective wave as mentioned in the last update with some sign of bottoming appearing. As long as the 20 and 60 day moving average holds, price should continue to move ahead within the uptrend to break new highs. Watch for price to break above the pullback line for confirmation of the next wave up. Page 4 PHILLIP SECURITIES RESEARCH (SINGAPORE)

5 Cogent Ltd Daily timeframe (Update from 22 March 17) Sunpower Ltd Weekly timeframe (Update from 30 March 17) CWG Intl Ltd Daily timeframe (Update from 31 March 17) Support 1: Resistance 1: Support 2: Resistance 2: Buyer successfully steer the ship back into the long term uptrend recently after the 20 day moving average crossed above the 60 day moving average on 23/01/17. Price is currently moving in a gentle correction within the uptrend with the 20 and 60 day moving average ready to support price. The next bullish break above the pullback line should usher in more buyers for price to resume the uptrend. Note: Our current fundamental view on Cogent is a Buy rating with a fair value of $ Support 1: Resistance 1: Support 2: Resistance 2: Strong uptrend here dominating price since July 2015 as the 20 week moving average relentlessly jolted price higher. After a prolonged period of rallying, price finally experienced some healthy correction off the resistance area. The correction is likely going to take price down to retest the 20 week moving average once again which should be interesting. Watch out for bullish price action off the 20 week moving average for buyers to re-establish the uptrend. Support 1: Resistance 1: Support 2: Resistance 2: Price has been trending up perfectly in line with 20 and 60 day moving average since June The uptrend remains intact as price once again found a base off the 20 and 60 day moving average. Expect the current bullish bounce off the 20 and 60 day moving average to boost price further within the uptrend to test retest the resistance area followed by Page 5 PHILLIP SECURITIES RESEARCH (SINGAPORE)

6 UMS Ltd Daily timeframe (Update from 2 March 17) Support 1: Resistance 1: Support 2: Resistance 2: Price broke out into another leg higher within the uptrend with great momentum after the last update. The uptrend remains sturdy even after the recent correction off the resistance area as the move was promptly halted off the 20 day moving average. Since then, price continued to trail behind the 20 day moving average suggesting the strength within the uptrend. Price should continue to rise to test the resistance area after the increasing volume bullish break above the resistance area on 28/04/17. United Engineers Ltd Daily timeframe (Update from 31 March 17) Support 1: 2.74 Resistance 1: 2.97 Support 2: 2.63 Resistance 2: 3.04 Price is still moving healthily in the uptrend with the 20 and 60 day moving average holding price up. The recent rebound off the 20 and 60 day moving average is showing the formation of a double bottom pattern off the 2.74 support area and 38.2% Fibonacci retracement level. As long as the 20/60 day moving average and 2.80 support area holds, price should continue to ascend to test the 2.97 resistance area followed by Moya Asia Ltd Daily timeframe (Update from 17 March 17) Support 1: Resistance 1: Support 2: Resistance 2: Price is still rising steadily within the uptrend here with a strong base building up around the confluence of 60 day moving average and support area. The multiple bullish rejection off the support area signals the buyers are still resilient. As long as the 60 day moving average and support area holds, the uptrend should march along fine to retest the resistance area followed by Page 6 PHILLIP SECURITIES RESEARCH (SINGAPORE)

7 Food Empire Ltd Daily timeframe (Update from 12 April 17) Support 1: Resistance 1: Support 2: Resistance 2: Price is currently weakening into a correction phase with the resistance area keeping a lid on price. However, the uptrend remains intact as the resistance turned support area is remains valid. Watch the support area closely as the break below it would greatly shift the sentiment to the downside. On the other hand, if the support area holds, watch for bullish close back above the pullback and 20/60 day moving average to end the current correction. Sunright Ltd Daily timeframe (Update from 24 March 17) Jumbo Ltd Daily timeframe (Update from 6 April 17) Support 1: Resistance 1: Support 2: Resistance 2: Price corrected in line with the last update as it fell back down to test the 20 day moving average and support area. Nonetheless, buyers reappeared again subsequently and managed to reverse price back above the 20 day moving average on 25/04/17 signalling the end of the correction. Watch out for the bullish break above the pullback line for further sign of strength. The low on 19/04/17 should be the current higher low point where price bounces higher from on to retest the resistance area followed by Support 1: Resistance 1: Support 2: Resistance 2: Price has been correcting lately since it a hit a high of on 26/01/17. The uptrend remains intact amid the recent weakening with price currently testing a crucial area. The resistance turned support area will determine the course of action. If the support area holds with price closing above the pullback line and 20/60 day moving average, the uptrend should resume for price to test the resistance area followed by On the other hand, if the breaks, price should continue to fall to find the next support at the 200 day moving average and support area. Page 7 PHILLIP SECURITIES RESEARCH (SINGAPORE)

8 F & N Ltd Daily timeframe (Update from 24 March 17) ThaiBev Ltd Weekly timeframe (Update from 14 March 17) Support 1: 2.30 Resistance 1: 2.41 Support 2: 2.23 Resistance 2: 2.55 Price has just recently established a new uptrend after the bullish breakout above the 2.17 range high since 23/03/17. The 20 and 60 day moving average have both rose significantly with price and they appear ready to support price. After hitting 2.41 high on 27/03/17, price went into a correction/consolidation mode again with 2.30 resistance turned support area holding price up. Expect the uptrend to continue as long as the 2.30 support area and 20 day moving average holds. The current upswing should be targeting the 2.41 resistance area next followed by Support 1: Resistance 1: Support 2: Resistance 2: Price has been trending higher since February 2012 with the help of the 20 and 60 week moving average supporting price. The recent correction off the resistance area since 29/07/16 was once again halted off the 60 day moving average on the week ended 27/01/17, successfully kept the long term uptrend intact. Moreover, the strong bullish break above the 20 week moving average and pullback line on the week ended 17/02/17 confirmed the resumption on the uptrend. Price should continue to move within the upswing next to retest the resistance area followed by Page 8 PHILLIP SECURITIES RESEARCH (SINGAPORE)

9 Head of Research Paul Chew Contact Information (Singapore Research Team) Research Operations Officer Mohamed Amiruddin - amiruddin@phillip.com.sg Consumer Healthcare Property Infrastructure Macro Soh Lin Sin - sohls@phillip.com.sg Peter Ng - peterngmc@phillip.com.sg Pei Sai Teng - peist@phillip.com.sg Transport REITs (Industrial) REITs (Commercial, Retail, Healthcare) Property Technical Analysis Richard Leow, CFTe, FRM - Dehong Tan - tandh@phillip.com.sg Jeremy Ng - richardleowwt@phillip.com.sg Banking and Finance US Equity Oil & Gas Energy Jeremy Teong - jeremyteongfh@phillip.com.sg Ho Kang Wei - hokw@phillip.com.sg Chen Guangzhi - chengz@phillip.com.sg SINGAPORE Phillip Securities Pte Ltd Raffles City Tower 250, North Bridge Road #06-00 Singapore Tel Fax Website: JAPAN Phillip Securities Japan, Ltd. 4-2 Nihonbashi Kabuto-cho Chuo-ku, Tokyo Tel Fax Website: THAILAND Phillip Securities (Thailand) Public Co. Ltd 15th Floor, Vorawat Building, 849 Silom Road, Silom, Bangrak, Bangkok Thailand Tel / Fax Website UNITED STATES Phillip Capital Inc 141 W Jackson Blvd Ste 3050 The Chicago Board of Trade Building Chicago, IL USA Tel Fax Website: INDIA PhillipCapital (India) Private Limited No.1, 18th Floor, Urmi Estate 95, Ganpatrao Kadam Marg Lower Parel West, Mumbai Maharashtra, India Tel: / Fax: Website: CAMBODIA Phillip Bank Plc Ground Floor of B-Office Centre,#61-64, Norodom Blvd Corner Street 306,Sangkat Boeung Keng Kang 1, Khan Chamkamorn, Phnom Penh, Cambodia Tel: 855 (0) /855 (0) Website: Contact Information (Regional Member Companies) MALAYSIA Phillip Capital Management Sdn Bhd B-3-6 Block B Level 3 Megan Avenue II, No. 12, Jalan Yap Kwan Seng, Kuala Lumpur Tel Fax Website: INDONESIA PT Phillip Securities Indonesia ANZ Tower Level 23B, Jl Jend Sudirman Kav 33A Jakarta Indonesia Tel Fax Website: FRANCE King & Shaxson Capital Limited 3rd Floor, 35 Rue de la Bienfaisance Paris France Tel Fax Website: AUSTRALIA Phillip Capital Limited Level 10, 330 Collins Street Melbourne, Victoria 3000, Australia Tel Fax Website: TURKEY PhillipCapital Menkul Degerler Dr. Cemil Bengü Cad. Hak Is Merkezi No. 2 Kat. 6A Caglayan Istanbul, Turkey Tel: Fax: Website: HONG KONG Phillip Securities (HK) Ltd 11/F United Centre 95 Queensway Hong Kong Tel Fax Websites: CHINA Phillip Financial Advisory (Shanghai) Co Ltd No 550 Yan An East Road, Ocean Tower Unit 2318, Postal code Tel Fax Website: UNITED KINGDOM King & Shaxson Capital Limited 6th Floor, Candlewick House, 120 Cannon Street, London, EC4N 6AS Tel Fax Website: SRI LANKA Asha Phillip Securities Limited 2 nd Floor, Lakshmans Building, No. 321, Galle Road, Colombo 03, Sri Lanka Tel: (94) Fax: (94) Website: DUBAI Phillip Futures DMCC Member of the Dubai Gold and Commodities Exchange (DGCX) Unit No 601, Plot No 58, White Crown Bldg, Sheikh Zayed Road, P.O.Box Dubai-UAE Tel: / Fax: Page 9 PHILLIP SECURITIES RESEARCH (SINGAPORE)

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