SGX Stocks Hovering Near 200 Days Simple Moving Average

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 by using Metastock . 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.

Metastock free trial available at www.metastock.com/tacttrial

Sinotel Testing Gap Resistance

Testing of light blue gap resistance in progress. A successful breakout above this gap resistance will challenge the following potential resistances

1. Green upper channel resistance boundary
2. Pink resistance belt
3. Ichimoku Kumo Storm Cloud
4. Upper red channel dual resistance zone


Any pullback will probably retest the following support zones

1. Green support band
2. Lower green channel support
3. Milestone at 30
4. Lower red channel dual support zone

Stay alert and be nimble as market continues to roller coaster.

DJIA Line Chart Half Diamond To Full Gem

The orange half diamond formation mentioned in the 6 June 2010 posting has been transformed into a sparkling gem . A breakout upwards will confirm a reversal diamond pattern. The upthrust will challenge the formidable moving average ribbon bands and will probably be halted by the red trendline.

Conversely, a breakdown below the orange diamomd support confirms a continuation pattern and will probably result in more downward declines. A drop below the blue trendline will test the lavender and the green horizontal support levels.

Genting Approaches Double Bottom Measured Move Target Projection

After clearing above 1.07, the light blue immediate resistance is the next band to overcome. This band marks the projected target for the double bottom breakout confirmation based on the difference between the pink support and the 97.5 milestone. A strong breakout above the immediate resistance band will probably test the green resistance zone followed by the orange resistance region.

Take note that any pullback from the red upper channel dual resistance lines will retest the lavender immediate support area. Further weakness may find support at $1 .

Equis Metastock MACD Scan List as at 11 June 2010

The Equis - MACD - Expert System is available as a trading system in Metastock. This exploration scan shows MACD Buy/Sell signals (MACD crossing above/below its 9-period EMA) with a 1 in either Column A or Column B.

Additionally, it finds stocks that reflect the MACD being in an overbought or oversold condition, which is reflected in Columns C and D.

The list posted above has been sorted by top volume. More info about Metastock available at www.metastock.com/tact

Free trial for Metastock 11 available at www.metastock.com/tacttrial

DJIA Range Bound Between 200 MA and Diamond Support

As expected DJIA is trapped between the red support of the potential diamond pattern and the dual resistances of both the 200EMA and 200SMA. A strong upthrust above these 200 moving averages will most probably be halted by the green resistance of the potential diamond formation.

The red support will probably be tested again if more shocking news are released. The diamond will be negated if there is no clear breakout by the time the index reaches the apex which is tentatively around mid Oct 2010.

Healthway Doji Pondering Entry Into Bear Zone

Doji contemplates invasion of bear territories. Blue bear standing guard at the bold blue immediate resistance border. A bull raid above this boundary will meet strong bear defences at the red upper channel dual resistance lines.

Immediate support is 17.5 to 17 followed by 16 to 15.5 support zone. Next bull support is the 14 support line. Strong bull support is at the red lower channel dual support lines.

China XLX Testing Downtrend Resistance Slope

4th attempt at breaking upwards from the bold red dashed downtrend resistance slope in progress. The red down arrows indicates previous failed breakout attempts. A successful breakout must clear the mmediate light blue resistance band and will probably meet the following resistances

1. Bold green dual downtrend slope

2. Ichimuko Kumo Cloud

3. Orange resistance zone

Immediate support is the lower blue channel support followed by the pink support belt. A breakdown below 47.5 will probably retest the green support area. Support failure here will resume drop along the lower red channel support.

DJIA Line Chart Diamonds and Half Diamond

The simple line chart is treated as the poor cousin of the more exotic candlesticks charts and is often overlooked. In character, in manner, in style, in all things, the supreme excellence is simplicity. Using the simple line chart the green and red diamonds can be seen clearly. The orange half diamond is also known by many names such as

1. Reverse Symmetrical Triangle

2. Megaphone

3. Broadening Pattern

Depending on how the market moves next week this orange half diamond may developed into a full diamond if high volatility swings become compressed.

Take note that a head and shoulders pattern with a red diamond top head was confirmed when the red bold trendline which is also the neckline support broke down on 20 May 2010. This coming week will be critical because support failure of the bold blue trendline will probably result in a fall towards the green horizontal support which is also near the measured move projection of the head and shoulders formation.

A technical rebound is expected for the orange half diamond but it will probably be halted at the light blue horizontal resistance line. Until a powerful breakout emerges from this orange half diamond pattern more range trading between the light blue and pink horizontal lines will be the norm.

Z-obee Falling Towards Major Support Confluence Zone

Breakdown from the green inverted cup and handle target support band has resulted in a drop towards the major support confluence zone comprising of

1. 200 EMA

2. Light blue support region

3. 200 SMA

Trading range is expected within this confluence region.