Genting Testing Support Band

Testing of light blue immediate support band in progress. Support failure here will see a retest of the lavender support zone. Immediate resistance is the dual resistance band formed by the blue channel. Next resistance is orange resistance belt followed by the red extension line of the neckline of the complex head and shoulders pattern. Any upward movement will most probably be halted at the green resistance zone.

If Big Bears continue to be in control in the afternoon trading session the light blue support may breakdown. Stay alert and be nimble.

Z-obee Trailing Profit Protection

Kudos to those who bought at the breakouts of the red trendline or the green horizontal resistance line. As price continues to move higher and higher the risk of a retracement is imminent. A simple profit protection such as a 1% percent trailing stop from the daily low will provide a safety net to ensure that accumulated profit is not eroded. As long as the price does not go below the blue trailing stop let your profit ride on this zooming rocket.

Long or Short based on Metastock Exploration 3% Crossover

Healthway Potential Ascending Triangle

Hovering near slope support of potential ascending triangle. A rebound here will retest the horizontal resistance of the triangle. Immediate support is the green support zone. Support confluence is the intersection of the lower dual band boundary of light blue channel and the dual band slope of the triangle. Support failure here will probably find new support at the light blue area and attempt to create a new slope support there.

Yanlord Trapped Inside Ichimoku Kumo Clouds

Fifth attempt to clear and move above the red channel halted again in morning trading session. Immediate resistance is the red channel upper boundary. A breakout above the Ichimoku kumo cloud region will meet the grey resistance belt.The next resistance is the upper dual resistance bands of the green channel followed by the pink resistance zone. Expect more probable resistances at the coloured bands above this pink zone.

Immediate support is formed by the light blue zone. Any attempt to breakdown below the Ichimoku kumo cloud must challenge the brown support region. Support failure here will plummet price into the pink channel and retest 1.70 trough formed on 19 Feb 2010.

Z-Obee Third Attempt to Breakout Above Ascending Triangle

Once again for the third time halted by the green resistance zone. Immediate support is the orange support belt. Breakout above the immediate green resistance zone will probably challenge the dual resistance band of the green channel. Clearing the horizontal resistance of the red ascending triangle will probably find new support around this horizontal line.

Any pullback below the immediate orange support belt will meet strong support at the intersections of the lavender support area, the upper dual band of the blue channel and the lower dual band support of the green channel.

A breakdown below the red slope support of the red ascending triangle will negate this triangle formation. However, technically there is a possibility of a larger triangle pattern if a support base forms at the light blue support zone or the Ichimoku kumo cloud region.

DJIA Minor Rising Wedge Inside Major Rising Wedge

High chance of a double top pattern forming if the blue minor wedge support is broken. The spinning top candlestick formed on Friday indicates indecision. Stay alert and be nimble as Bulls and Bears wrestle to control the market. If the Bears achieve power expect a breakdown of the minor blue rising wedge and a retest of the red major rising wedge support. If the Bulls continue charging upwards the upper resistance of the blue wedge will most probably experience a breakout and challenge the resistance formed by the giant red rising wedge.

Long or Short List

Genting Testing Major Multiple Resistance Zone

Since 4th March 2010 green channel support rebound price has been rising and is now testing a major multiple resistance zone comprising of the following barriers :-

1. Red neckline resistance of the complex head and shoulders pattern

2. Dual upper resistance band of the green channel

3. Blue 200 EMA resistance

4. Brown 200 SMA resistance

5. Green resistance belt

A major breakout here will retest the pink resistance region followed by probable key resistances at 1.10, 1.15, 1.20, 1.25 and finally a challenge of peak resistance band at 1.30 to 1.32

However if the breakout of the major multiple resistance zone fails expect a pullback towards the lower dual support boundaries of the green channel.

SMB Rebounds from Ichimoku Kumo Cloud Support

The two doji candlestick pair halted price decline near the triple intersections of red, green and blue channel supports. The stochastics has crossover and is just beginning to move out of the oversold region. RSI and MACD are also exhibiting favourable signals. The upward price move will probably test the resistance of blue channel around 34.5 and if bullish buying interest continues a surge into the upper dual resistance band of the green channel will probably retest 36 peak formed on 22nd Feb 2010.

Immediate support is the Ichimoku kumo cloud followed by the red channel support. The dual support band of the green channel and the blue channel support are the next support zone. Support failure at 30 will probably retest the 28 to 27.5 gap support .

Yanlord Hovering In the Clouds

Clouds hovering as Bulls and Bears await a major push to determine the next swing direction. A breakdown of immediate resistance at 1.94 will probably retest the red channel support followed by the light blue support zone, Further weakness will plummet price to the lower dual support of the green channel and lower support of the dark blue channel. A breakdown here may see support at 1.75 to 1.70 region.

Conversely, an upward move above the Ichimoku Kumo Clouds will need to clear the upper dual resistance of the green channel followed by the pink resistance area. A successful breakout will see challenges at the colored bands as upward surge continues.

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Z-Obee Potential Ascending Triangle Sloping Support Rebound

Rebound from sloping support of red potential ascending triangle. Advance was halted by the lavender resistance zone and the upper dual resistance band of the blue channel. Further climb must surmount both these 2 barriers and punch through both the orange and green territories. A breakout above the red horizontal resistance confirms the ascending triangle pattern.

Immediate support zone 36 to 35 and next support is the light blue support area. A retest of the pink support region will most probably negate the ascending triangle formation although technically there is a possibility of an even larger triangle. A breakdown below the pink support will confirm the double top formed by the peaks on 25th Jan 2010 and 1st Mar 2010.

Yanlord Meets Ichimoku Kumo Storm Clouds

A breakout above the Ichimoku Kumo storm clouds will most probably propel price towards the pink resistance zone. If bull power continues then expect resistances at the colored zones. However if lightning strikes a decline back down to the light blue support zone will prevail. Further weakness will retest lower boundary of blue channel.

Z-Obee Doji Testing Sloping Support of Potential Ascending Triangle

Doji testing red ascending triangle support and light blue support zone. A successful rebound to confirm the ascending triangle pattern will need to clear the following resistances

1. Immediate resistance formed by the intersection of the upper boundary of the blue channel and the lower boundary of the green channel

2. Resistance zone at 35.5 to 36

3. Lavender resistance area

4. Orange resistance region

5. Green resistance territory

6. Horizontal resistance of red potential ascending triangle . A breakout above this resistance confirms the triangle formation and will probably see an attempt to climb higher.

Conversely, if the flushing of the weak contra traders is not support by strong buying interest expect retests of the following supports

1. Immediate sloping triangle support

2. Light blue support zone

3. Pink support belt

4. Ichomoku kumo support cloud

5. Lower boundary of blue channel

Genting Pitchfork Challenge

With the bullish closing on Friday there will be challenges to the following resistances

1. Median line of Greeen Pitchfork

2. The dual 200 moving averages of both the 200EMA AND 200SMA

3. Red neckline of the compleax head and shoulders chart pattern

4. The upper boundary of the green pitchfork

Immediate support is 88.5 to 88 zone followed by 83.5 and the lower support of the green pitchfork. Since 18th Feb 2010 price has been trading in the lower portion of the green pitchfork. Any strong breakout in either direction will ultimately need to challenge the pitchfork formation and move out of its zone of influence.

Genting Testing 85 Support on 30 mins chart

Another support breaks as Genting continues to plummet lower. The previous support at 86.5 has been demolished and a new support at 85 is being tested. Immediate resistance now is 86.5 and any move up above 86.5 will need to clear the light blue dual trendline resistance followed by the Ichimoku Kumo Storm Clouds.

A breakdown below 85 will challenge the red triple trendline support as shown on the 30 min chart. Stay alert and be nimble if you want to bet on Bear Casino Island Resort.

Z-Obee Double Doji Testing Support Zone

Market waiting for Big Bulls and Big Bears to take action. Doji indicates Bulls and Bears in equilibrium. Watch the breakout direction and probable support and resistance zones.


For upward bull breakout expect the following high probability bear resistances at

1. Immediate resistance at 37.5

2. Light blue resistance zone

3. Red horizontal resistance of ascending triangle

4. Upper green channel resistance boundary


For a bearish breakdown the bulls will stage high probability support at

1. Immediate support of the upper boundary of the dark blue channel

2. Green support zone

3. Lower boundary of green support channel

4. Sloping trendline support of red ascending triangle

5. Pink support zone

6. Ichimoku kumo cloud support

7. Lower dark blue channel support boundary


Stay alert for a big bear or big bull breakout from this double doji formation.

Genting 88 Support Turned to Resistance on 30 min chart

Another support at 88 cents has been taken out and has transformed itself into a resistance line. More bears invading this casino island resort. Any breakout above 88 will most probably be halted by the green dual resistance trendlines and the dark storm clouds of the Ichimoku Kumo. Immediate support 86.5 with a high chance of testing the pink dual trendlines support. Further weakness will plummet price to the blue dual trendlines support.

Yanlord Inverted Head and Shoulders Confirmation

Breakout above the neckline resistance zone 1.82 to 1.80 confirmed the reverse head and shoulders pattern. Strong buying has powered the rapid flight of price towards the target price zone of 1.95 to 2.00 and expect profit taking at this region.

Pullback towards 1.91 to 1.89 support zone expected if buying interest wanes and further weakness may see a retest of 1.87 to 1.85 support zone. Major support is the former neckline resistance turned support zone as seen on the hourly chart.

Z-Obee Potential Double Top or Potential Ascending Triangle

Tested and pullback from the high of the previous peak thus setting a potential double top chart pattern in the process. At the same tine on closer examination there is also a potential ascending triangle as shown in red. This ascending triangle formation will be invalid if price breaks down below the sloping support of the triangle. A breakout above the red horizontal resistance will confirm the ascending triangle.

The potential double top formation will be confirm only if there is a breakdown below the pink support zone and will be invalid if price manages to clear the red horizontal resistance line.

List of SGX Counters Hovering Near 200 SMA as at 26th Feb 2010

The 200 SMA is used to demarcate bull zone from bear territory. Statistics have indicated that long positions above this line favours the bulls and short positions below this line provide better odds for the bears.

You should add this moving averages to all of your charts in all time frames. Yes. weekly charts, daily charts, and intraday (5 min,30 min, 60 min) charts.

The 200 SMA is the most important moving average to have on a stock chart. You will be astonished at the frequency a stock will reverse in this region.

When writing scans for stocks, you can use this as an additional filter to find potential long setups that are above this line and potential short setups that are below this line.

The list of SGX Counters Hovering Near 200 SMA was an exploration result written in Metastock Formula Language. Stay alert and be nimble if the counter you are trading appears on the list posted above. Expect high volatile swings as the stock struggles to decide whether to remain as a bull or tranform into a bear and vice versa.