Friday, June 22, 2007

Charts charts charts

Chartnexus uploaded today's data already :)

Straits asia might have broken out of the rising bear wedge as suggested a few days ago. The signs are all there, low volume while inside the formation, price bouncing up and down within two uptrending and converging channel.

Today's the price seems to have broken out of the wedge, although the volume is not strong, it's still valid. I guess it didn't help that CIMB downgraded straits asia with tp of $1.36. Hmm...should I cash out or buy more on weakness? I'm not too sure. Read all about it here:

Possible support level at 1.48 then 1.41 (strong support). If I want to add in on weakness, it should be around the support. If I want to sell off on strength, I'll sell upon breaking down of support. Hmm, hard decision to make, esp so since I'm still not sure of how to do an independent evaluation of the value of the stock. Jiat lat...

CHoffshore trading within channel trend now. It will go up and down within the trend line. I can only say the uptrend is still there, unless the lower downtrend breaks down. I like this stock better and better. Target price set by Kim Eng is $0.85

From the table above, seems like CHoffshore is trading way below its peers. It's the 2nd lowest in its sector, meaning it's undervalued compared to its peers. Marine oil/gas sector is booming now, best time to ride on the trend. I'm also holding similar stocks like swiber.

Construction stocks have run up a lot since last week, so should be consolidating and building base before its next upsurge. Unless have news of new contracts, I don't think it'll have much incentive to go up. Haha, better still, take this lull in activity to add more yongnam to my holdings. After freed the 5k from genting, I should reinvest in some construction stocks. Can add 10 lots if I buy at 0.405 for yongnam.

Dow futures stand at -23 now. Europe still all red.

I'll post what I'm going to do for next week this Sunday.