It seems like momentum is heading south, fast. The algo on the weekly SMAs are already south bound with the 10 SMA being the strongest indicator yet of a train wreck incoming. While the PPMs are still not in a down trend, the algo looking out seems to signal a downside bias for the momentum. On to the daily charts, the PPMs 1 and 2 are already heading down while...
Currently there is no trend visible on the charts, which means likely a sit-and-wait scenario. PPMs on the daily and weekly are all in no-trend mode and the algos on the SMAs are mostly flat for the near term. More work needs to be done before we get any sort of direction in the market for now.
Compared to yesterday's session, today's daily PPMs look to show signs of stabilisation in the upcoming week. Although PPM2 still looks good for the bears, PPM1 is looking to turn up after some stabilization of momentum. This lines up with the weekly algos showing next week having some positive momentum. However things still look like more work needs to be done...
The derivatives of the daily PPMs are crossing over, or already crossed over. This looks like price has found a top and is getting ready to bowl over. Note that yesterday's sell off had breached the lower limit of the trading range. This means that there will be either a breakout to the down side (which looks most probable according to the PPMs) or a retest of...
With the downward momentum out of the way, price looks to start regaining momentum again. It may be limited to this week though, as the algos on the PPMs show a reversal again after a couple of days. Weekly chart is not able to provide much information for this week as the PPMs 2 and 3 are not in any trend, hence there's nothing preventing the price from...
Daily PPMs are not showing any sign of momentum at the moment, hence price is expected to linger around it's current range for a few trading sessions. The PPM1 on the weekly chart is back in trend again, even if downward facing for this week. So I expect some easing of the downward pressure on price. Today is a Friday, and next week is predicted to have an...
With none of the daily PPMs in trend mode, yet the PPMs 1 and 3 forecasting more downward momentum, the outlook for the week looks dismal. That said, forecasted downward momentum doesn't mean down trend. Price is still a long ways to a down trend. Looking at the weekly chart, none of the PPMs are in trend mode too. However, PPM1 is nearly there, having lost its...
The weekly SXT buy signal was hit in yesterday's trading session. This meant breaching the 40 SMA at 3.261. However this was not surprising considering the PPM 3 was nowhere near trend mode. This meant that the 40 SMA held no significance in that session. Now that the SXT buy was hit, price seems to be rebounding in early trade today. Note however that the PPM 2...
While the daily PPMs are still looking to flatten out, it doesn't change the fact that the over-zealous selling we are seeing now was caused by the santa rally that overshot the high fib targets in practically 1 session. A likely scenario now would be a test of the 10 SMA at 3.244 before bouncing back up. The scenario mentioned yesterday about a blip may not be...
DBS Bank Limited, often known as DBS, is a Singaporean multinational banking and financial services corporation headquartered at the Marina Bay Financial Centre in the Marina Bay district of Singapore. Multi-month consolidation looking to break, up.
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...